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 are centralized cryptocurrency exchanges?

Centralized cryptocurrency exchanges are online platforms used to buy and sell cryptocurrencies. They are the most common means that investors use to buy and sell cryptocurrency holdings. Some investors may find the concept of a "centralized" exchange to be somewhat misleading, as digital currencies themselves are often billed as "decentralized.".

How much is the crypto market worth in 2021?

Centralized crypto exchanges, which hold customers' private keys unlike decentralized exchanges, reported more than $14 trillion in trading volume in the year 2021, according to The Block Research. That figure is a massive 689% increase compared to 2020 trading volumes, based on data as of December 24.

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.