According to The Block Research data, decentralized exchange (DEX) trading volume reached $300 billion in November, exceeding the previous cycle high of $260 billion set in May 2021. The trading volume ratio of DEX to CEX continued to rise, reaching 11% in November, higher than 9.3% at the beginning of 2024 and 0.04% at the beginning of 2020.
In response, Deribit CEO Luuk Strijers said that he doubted the sustainability of many platforms due to regulatory pressure. "I think a lot of platforms will cease to exist," Strijers argued. "So rather, I think the regulatory framework will be strengthened globally and make many of the current huge list of platforms no longer viable, either because the operating costs are too high or because regulators will simply shut them down." (TheBlock)