In May, decentralized exchanges (DEXs) reached a record 25% of global spot trade volumes, surpassing centralized exchanges (CEXs). Leading this surge was PancakeSwap with a staggering $171.6 billion in trades, followed by Aerodrome and PumpSwap. Simon Kim, CEO of venture capital firm Hashed, signals this as a paradigm shift in trading systems, predicting DEXs will dominate by 2030 due to their key strengths like composability, permissionless innovation, and cross-chain interoperability.
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