Surged by 346% vs decreased by 20.8%, CoinGecko: DEX perpetual contracts are taking market share away from CEXs
Author: CoinGecko
Compiled by: Deep Tide TechFlow
Introduction: The core data from CoinGecko's annual report is enough to tell the story: DEX perpetual contracts saw a 346% increase in trading volume year-over-year, while CEX holdings decreased by 20.8% during the same period. Funds are systematically shifting from centralized to decentralized platforms.
This article is not just about stacking numbers; it clearly explains why this migration is happening, how Hyperliquid managed to surpass Coinbase International, and what these platforms are becoming after HIP-3.
Full text below:
By 2025, perpetual contract exchanges—especially decentralized platforms—are expected to explode, with total trading volume reaching $92.9 trillion (a 64.6% year-over-year increase), fundamentally shifting the crypto market from