Tradere bytter massivt fra DEX til CEX

According to the latest CoinDesk Exchange Review for March 2026, decentralized exchanges continue to lose ground amid an overall decline in crypto market activity. The share of spot trading on DEX fell to 14.3%, while the share of derivatives trading dropped to 14.9%. These are the lowest figures in recent months: DEX spot volume shrank by 23.9% to $212 billion, the lowest level since October 2024.

At the same time, the share of derivatives trading on centralized exchanges (CEX) rose to 76.5%, the highest since September 2023. Total CEX trading volume reached $5.26 trillion (down 6.53% from February), with spot declining 15.7% to $1.27 trillion and derivatives hitting $3.99 trillion. Traders are clearly favoring centralized platforms, especially during periods of low volatility and cautious market sentiment.

Binance solidly leads across all segments

The exchange posted record figures:

• Derivatives trading volume, $1.41 trillion (share 35.4%). This is more than the combined volume of OKX ($716 billion) and Gate ($480 billion).
• Spot market share, 21.29%.
• Futures on traditional assets (TradFi-linked perpetuals), over 60% market share.

Binance not only maintains its lead in spot trading despite the overall drop in crypto activity but is also strengthening its position in the institutional segment. Gate overtook Bybit for the first time and climbed to third place in derivatives (12.0% share).

Recently, we published a detailed comparison of the pros and cons of DEX vs CEX in our article “DEX vs CEX: Decentralized vs Centralized Crypto Exchanges”. The fresh CoinDesk data confirms the trend: despite all the advantages of DeFi, anonymity, no KYC, and direct asset control, traders are increasingly choosing CEX for superior liquidity, execution speed, convenience, and access to advanced derivatives, especially while the market waits for new growth drivers.

The market continues to consolidate around the biggest players. While DeFi drives innovation, CEX are capturing the bulk of trading volume. We’ll be watching April closely to see whether this trend holds or if DEX can fight back.