Are Exchanges About to Change? Decentralized Exchanges Rise, Eroding Users and Capturing Traffic

Author | Cog and Lingge In 2020, driven by the DeFi wave, decentralized exchanges became all the rage. Starting in April, its market share grew rapidly and continuously eroded the market share of centralized exchanges. For example, Uniswap, the leader among decentralized exchanges, beat Coinbase in trading volume. "The exchange market is about to change," some players lamented. Faced with this shift, traditional exchanges will not sit idle. They have all rushed to launch their own decentralized exchange services. But revolutionizing oneself is not easy. A battle among exchanges has already begun.