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26 October 2020

Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration | Exchanges Bitcoin News

Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration | Exchanges Bitcoin News


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As data from the survey conducted by cryptocompare.com shows, CEX operators are conceding that volumes on DEXs are growing, but they suggest different reasons why this is happening.

To begin with, the survey data shows that about 46.2% or 12 out of 26 of the responding operators “believe that the anonymity afforded by DEXs was the primary reason users traded on DEXs.” About 19.2% (5) believe the self-custody feature is the secondary driver of volumes on DEXs.

Meanwhile, four CEXs or 15% of respondents say yield farming is another driving factor while just two exchange operators believe the lack of a third party operator to be the reason users are flocking to DEXs.

According to the findings, just “57% of respondents believe it was unlikely or very unlikely that DEXs will have better UX in 2 years.” Only 11% of respondents thought that DEXs will have better UX than CEXs in 2 years’ time?

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