Centralized Crypto Exchanges Clear $2.3 Trillion in Q2 as DEX Share Hits 24%
Updated
Updated · Yahoo Finance · Aug 8
Centralized Crypto Exchanges Clear $2.3 Trillion in Q2 as DEX Share Hits 24%
2 articles · Updated · Yahoo Finance · Aug 8
Summary
$2.3 trillion in spot volume flowed through the 17 biggest centralized crypto exchanges in Q2 2026, down from $3.1 trillion in Q1 and well below the $6.3 trillion peak in late 2024.
The drop no longer cleanly signals a market bottom because part of the activity is shifting off centralized venues: on-chain trading's share of spot volume rose from under 10% in 2024 to about 24% by July 2026.
That leaves two forces behind the slowdown — trader exhaustion in weak market conditions and migration to decentralized exchanges or direct on-chain swaps.
Solana underscores the shift, with its DEXs handling $50.8 billion in June, ahead of Ethereum's $29.4 billion and far above smaller chains.