A figure that makes you dizzy … $ 15,000 billion would have passed through cryptocurrency exchange platforms during the year 2021, according to a report from The Block. Who got the most traffic?
The volume of exchange platforms explodes in 2021
The progress was noted in a very comprehensive report by The Block Research , which looked at the state of the crypto ecosystem in 2021. This $ 15 trillion concerns both centralized platforms (CEX) and decentralized exchanges (DEX). If we compare the volumes with those of previous years, the difference is particularly clear:
Increase in volumes on exchange platforms – Source: The Block
Volumes were 689% higher in 2021 than in 2020 . The previous year, centralized exchange platforms had only passed through “only” $ 1.8 trillion.
Unsurprisingly, Binance still largely dominates this year. The exchange platform represents 66% of total volumes , or $ 9.9 trillion. It is followed by Coinbase (12%) then FTX (6%).
CEXs continue to largely dominate trade volumes
In total, $ 14 trillion has passed through centralized platforms like Binance, Coinbase or Kraken. DEXs are only $ 1 trillion this year. This therefore confirms a trend observable elsewhere: it is the “big” exchanges which continue to capture the most volume, facing decentralized competitors who remain less affordable for neophytes.
But it would be misleading to say that DEX is not progressing. According to The Block, the volume of trading on platforms like Uniswap, Sushiswap and their consorts has grown even more than at CEXs. He jumped t in effect of + 858% when compared to last year.
In addition, The Block has stopped taking PancakeSwap volumes into account since last summer, deeming the Binance Smart Chain platform to be too centralized. Whether we agree or not, we still note that it currently transits more than $ 800 million in daily volume . If we add it to the DEX volumes, the progress is therefore even more noticeable.
