Many people have not yet realized that the cryptocurrency market has changed. Now, even without going through centralized exchanges (CEX), many Meme coins can obtain huge market capitalizations on the chain, ranging from tens of millions to hundreds of millions or even billions. Sometimes, it may be better to stay in the decentralized exchange (DEX) state than to go online to the secondary market exchange, because the main body of control has changed, the number of dealers has increased, and it has become more difficult to make money.

According to this trend, if the market value capacity of DEX continues to grow, funds and users may continue to flow from CEX to DEX. In 2023, the total trading volume of DEX was high at the beginning and end of the year, and remained volatile at a low level for the rest of the time, showing a certain positive correlation with the trend of the market. Since October, the total trading volume of DEX has been affected by the expectation of ETF approval, showing a more obvious climb and growth. There are obvious signs of recovery in market trading volume, and it is expected to continue to grow in 2024.

In addition, Uniswap, as the leading platform in the DEX market, has maintained a 33% market share despite a decline in market share. At the same time, the rapid rise of emerging chains such as Solana and Base has challenged the dominance of traditional Ethereum. With the intensification of market competition and continuous technological innovation, the future development prospects of decentralized finance are still full of opportunities and challenges.

The CEX market has also seen capital outflows. In the past 7 days, CEX has accumulated 9636.76 bitcoins, of which Bitfinex has outflowed 4776.29 BTC, Bybit has outflowed 2349.08 BTC, Bitstamp has outflowed 2270.96 BTC, Kraken has outflowed 1889.88 BTC, and Binance has outflowed 1863.95 BTC.

It can be seen that with the continuous growth of DEX market value capacity and trading volume, as well as the outflow of funds from the CEX market, the market's funds and users are indeed likely to continue to flow from centralized exchanges to decentralized exchanges.