Delphi Digital: Perp DEXs to erode centralized exchange market share

Decentralized perpetual futures exchanges (Perp DEXs) are rapidly eroding the market share of centralized exchanges (CEXs) with their lower fees and greater transparency, Cointelegraph reported, citing a recent Delphi Digital report. According to CoinGecko data, the market share of Perp DEXs grew from just 2.1% in January 2023 to 11.7% by November of the same year. Cumulative trading volume also more than tripled over the course of last year, surging from $4.1 trillion to $12.09 trillion. Delphi Digital projects that these platforms could evolve beyond simple exchanges into comprehensive financial hubs that act as brokerages, custodians, banks, and clearinghouses. The report noted that Hyperliquid (HYPE) recently built its own lending service, and predicted that competition will accelerate as newer entrants like Aster (ASTER) and Lyra (LIT) join the market.