DEX Trading Soars: Memecoins Fuel Record-Breaking Volume Surge

Decentralized exchange (DEX) trading activity has skyrocketed this year, breaking new records and surpassing centralized exchanges (CEXs) in popularity. According to CoinGecko data, DEX spot trading volume reached a record high compared to CEX volume, growing more than threefold over the past five years, with June 2023 hitting a peak of 37.4%. This trend is driven by the explosive growth of memecoin-driven trading activity and the increased popularity of platforms like PancakeSwap.