Spot exchange volume is on track to set a new 12-month low at $670 million, down from its annual high of $2.23 trillion.

DEX spot trading volume reached 24.14% of CEX volume in July 2026, the highest ratio since 2019, as decentralized exchanges gain structural

Decentralized exchanges handled spot volume equal to 24% of centralized exchange volume in July, the highest ratio since The Block's data series began in 2019.