Memecoin trading boom boosts DEX market share

The share of spot trading on decentralized exchanges (DEXs) has grown significantly this year, driven by a speculative frenzy in memecoins, Cointelegraph reported, citing data from CoinGecko. According to the data, the ratio of DEX to centralized exchange (CEX) spot trading volume reached an all-time high of 37.4% in June. Cointelegraph also noted that a surge in trading volume on PancakeSwap (CAKE) following its integration with Binance Alpha contributed to the increase.