How much money did centralized crypto exchanges make last year?

Last year, centralized crypto exchanges facilitated over $1.8 trillion in trading volumes. All these numbers are from The Block's Legitimate Index, which takes volume data from the largest exchanges that are known to be reporting volumes more accurately. Binance continues to dominate the centralized crypto exchange market.

What is the difference between a Cex and a decentralized exchange?

As of February 2022, CEXs are still far more common than decentralized exchanges (DEXs). KPMG found that they accounted for around 95% of exchange crypto trading. The largest crypto exchange in the world is Binance, which is centralized although it has launched its own DEX.

What is the largest crypto exchange in the world?

The largest crypto exchange in the world is Binance, which is centralized although it has launched its own DEX. The centralized Binance exchange processes more than $20 billion in transactions each day, compared with less than $2 billion for the largest DEX Uniswap.

What are cexs and how do they work?

CEXs generally offer supplementary services, such as crypto asset custody. They often require that users deposit their crypto assets at the exchange before trading can happen. Exchanges are the most valuable businesses in the crypto world, according to a 2021 report by global accountancy KPMG.