Solana DEX Spot Trading Volume Ranks Behind Binance and Bybit
The data indicates Solana-based decentralized exchanges (DEXs) are processing more spot trading activity than major centralized exchanges such as Coinbase and Kraken.
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Terms & Concepts
DEX: A decentralized exchange, where users trade directly on blockchain-based protocols without relying on a centralized intermediary.
Spot trading: The direct purchase or sale of an asset for immediate settlement at the current market price.
CEX: A centralized exchange operated by a company that matches buyers and sellers and typically holds customer assets.