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Podcast: The Crypto Show
Episode: Traders Return to CEXes
Description: The recent data from The Block's Data Dashboard shows a shift in trading behavior in the crypto market, with traders increasingly returning to centralized exchanges from decentralized ones. The decline in monthly volumes on decentralized exchanges relative to centralized exchanges began in May and continued through June, dropping from 22% to 16.8%. By early July, the ratio had fallen further to under 14%. This shift can be attributed to the waning interest in memecoins and the growing popularity of large-cap cryptocurrencies like Bitcoin and Ethereum, sparked by BlackRock's surprise filing for a spot Bitcoin ETF. Institutional investors entering the crypto space are believed...