Binance Founder Predicts DEXs Will Surpass CEXs in Trading Volume
Binance founder Changpeng “CZ” Zhao predicts decentralized exchanges (DEXs) will surpass centralized exchanges (CEXs) in trading volume. During the BNB Day Fireside Chat in Tokyo, he emphasized that “DeFi is the future,” citing recent growth in platforms like Hyperliquid and PancakeSwap.
Key Points
- DExs saw a 25% increase in spot trading volume in Q2 2025, while CEXs experienced a 28% decline.
- The DEX-to-CEX trading ratio reached a record 0.23.
- PancakeSwap processed over $392 billion in quarterly volume, nearly half of all DEX transactions.
- Zhao advocates for privacy-preserving perpetual DEXs and AI trading agents as future technologies.
- He believes Real World Assets (RWAs) offer long-term potential despite liquidity and regulatory challenges.
- BNB Chain invests in RWA initiatives to accelerate adoption.
- Zhao views Japan as a leading hub for Web3 innovation, praising its clear regulations and developer talent.
- Despite stepping down as Binance CEO, Zhao remains committed to the crypto ecosystem, with significant personal investments in BNB.