Centralized exchanges recorded the highest volumes since April, with CEXs accounting for the majority of spot trades and DEXs at yearly lows (7.8% of total spot volumes), signaling an increase in CEX and DEX divergence.
Binance’s market share has notably decreased from 56% to 40% within a year, and despite regulatory challenges, institutional inflows into TradFi instruments are increasing, with Bitcoin leading last week’s inflows at $227 million, part of a total net influx of $260 million, marking the highest 3-month total since Oct-Dec 2021.
The derivatives sector, specifically perpetuals, is capturing a heightened ratio of total DeFi volumes, and total open interest is approaching November 2021 levels.
