CEX Defense Battle: DeFi Pressing Forward, Are Centralized Exchanges "Panicked"?

Along with the bustling liquidity mining trend, DeFi (Decentralized Finance) is advancing toward CeFi (Centralized Finance) at an astonishing speed. In particular, riding the wind of liquidity mining and armed with the powerful weapon of Automated Market Maker (AMM), DEX has risen as a dark horse, bringing unpredictability to the crypto trading track. Perhaps even the CEX (Centralized Exchanges) at the top of the crypto food chain did not anticipate this sudden competition.