In May, the share of DEX spot trading volume rose to 25%, reaching a record high.

According to TechFlow, on June 2, the spot trading volume share of decentralized exchanges (DEX) rose to 25% in May 2025, reaching a historic high and approaching the market share of centralized exchanges (CEX) for the first time. The total trading volume of DEX reached 410.20 billion USD, with PancakeSwap leading at 171.60 billion USD, followed closely by Aerodrome and PumpSwap, each with monthly trading volumes nearing 15 billion USD.

According to The Block, Hashed CEO Simon Kim stated that this is not just a shift in market share but signifies a transition from centralized to decentralized markets. He expects DEX to surpass CEX by 2028 and achieve dominance by 2030. Kim emphasized that the growth of DEX is driven by the meme coin craze, lower wallet usage barriers, and decreased user trust in CEX, saying, "DEX is the true embodiment of the blockchain spirit."