Coinbase Global Inc's trading volume has soared past Uniswap and is now sitting at a massive $185 billion. Word from Kaiko, a digital assets data provider, confirms that this is more than double Uniswap's $93 billion worth of trading. While DEXs had once risen to $113 billion in trading volumes, it looks unlikely that they'll even hit $100 billion this month.
Coinbase’s success reaches beyond its trading volumes, as it posted better-than-expected revenue for its fourth financial quarter. To add to that, they also terminated trading of Binance USD on Monday. This has cemented their position as one of the top crypto exchanges, despite the rise of decentralised exchanges.
Analysts argue that despite the ease of use of such decentralised exchanges, the average investor is still put off by the worse user experience as compared to the more straightforward experience of Coinbase exchanges. This might hypothetically suggest that CEXs will always remain a part of the exchange landscape.