DEXs Have Grown the Most as Competition Among Crypto Exchanges Intensifies: Chainalysis

DEXs Have Grown the Most as Competition Among Crypto Exchanges Intensifies: Chainalysis
Decentralized exchanges (DEX) have grown massively since 2019, while the number of active exchanges – whether centralized or decentralized – has dropped in the same time period, according to Chainalysis’ latest report.This finding, which the blockchain data firm published Tuesday, showed that as cryptocurrency exchange competition has intensified, the crypto market – especially large, sophisticated crypto traders – has favored exchanges with high innovation and scalability.“DEXs have become extremely popular, which coincides with the explosive growth of the DeFi (decentralized finance) category in general,” the report concluded.The number of active DEXs has climbed significantly since 2019, according to Chainalysis, but…