DEX在亞洲的加密貨幣交易中主導著，CEXS正在爭先恐後地跟上

當涉及交易模因時，時間就是金錢 - 等待集中式交流（CEX）可能會花費你們倆。

When it comes to trading memecoins, time is crucial, and waiting on a centralized exchange (CEX) could cost you both time and money.

當涉及交易模因，時間至關重要，等待集中式交流（CEX）可能會花費您時間和金錢。

For instance, let's consider the recent launch of $TRUMP memecoin on January 17, 2025. Just before his inauguration, Donald Trump unveiled his memecoin on Solana, which surged past a $14.5 billion peak market cap on decentralized exchanges (DEXs) like Raydium and Orca within little more than 24 hours, making it the second largest memecoin behind Dogecoin at one point.

例如，讓我們考慮一下最近在2025年1月17日推出$ trump Memecoin。就在就職典禮之前，唐納德·特朗普（Donald Trump）在Solana上發布了他的紀念品，該紀念物在索拉納（Solana）上飆升，這在分散的交易所（Raydium and Orca）等分散的交易所（DEXS）上飆升了145億美元的高峰市場上限在不到24小時的時間內，使其成為僅次於Dogecoin的第二大紀念物。

However, by the time the major CEXs listed $TRUMP a day or two later — having cleared the usual bureaucratic rigmarole — the action was over. As such, for speculators, DEXs aren’t just faster; they're more liquid, more volatile and frankly, more fun. In a market where fortunes are made in minutes if not milliseconds, waiting for a CEX to catch up is a missed opportunity.

但是，當主要的CEXS每天或兩次列出$ trump $ trump時（清除了通常的官僚主義rigmarole），該行動已經結束。因此，對於投機者來說，DEX不僅更快。它們更液體，更易變，坦率地，更有趣。在一個市場，即使不是毫秒，在幾分鐘之內就賺錢了，等待CEX追趕是一個錯過的機會。

On the Monday morning following $TRUMP memecoin mania, I spoke with Bobby Ong, co-founder of CoinGecko, the independent crypto data aggregator that has long been my personal go-to for checking token prices — along with roughly 40 million other monthly visitors, according to HypeStat.com. Founded in 2014, CoinGecko has grown into one the most trusted sources for crypto market data.

在$特朗普的紀念躁狂症之後的星期一早上，我與Coingecko的聯合創始人Bobby Ong進行了交談。根據Hypestat.com。 Coingecko成立於2014年，已成長為加密市場數據最受信任的來源。

Ong and I had actually scheduled the call before Christmas, so it was pure coincidence that Trump just happened to launch his memecoin a few days earlier. When we spoke, we both had the same reaction: What the hell just happened?

我和Ong實際上已經安排了聖誕節前的電話，所以特朗普幾天前就碰巧發起了他的Memecoin。當我們講話時，我們倆都有相同的反應：到底發生了什麼？

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該系列是由香港共識帶給您的。來體驗Web3和數字資產中最具影響力的活動，2月18日至20日。立即註冊，並在Code Coindesk15中節省15％。

I’ve known Bobby for years—he's a true OG, having first bought bitcoin in 2013, and is one of the sharpest observers of how trading habits evolve at the grassroots level. When he started CoinGecko, it was to solve his own problem — back then, crypto price tracking was rudimentary, and there wasn’t a way to analyze market depth, liquidity, developer activity or community engagement. He wanted better insights, so he and his co-founder built the tool themselves.

我已經認識鮑比多年了 - 他是一個真正的OG，是在2013年首次購買比特幣，並且是交易習慣在基層水平發展的最敏銳的觀察者之一。當他開始使用Coingecko時，這是為了解決自己的問題 - 當時，加密價格跟踪是基本的，並且沒有辦法分析市場深度，流動性，開發人員活動或社區參與。他想要更好的見解，因此他和他的聯合創始人自己構建了工具。

Ong is based in Malaysia, while I’m in the Philippines, so we've both spent years in Asia's crypto scene, watching firsthand how the region has shaped — and been shaped by — crypto. With Consensus Hong Kong coming up and both of us slated to be speakers, we planned to discuss crypto adoption trends in Asia. But we ended up talking about the problems with CEX.

ONG總部位於馬來西亞，而我在菲律賓時，所以我們倆都在亞洲的加密貨幣場景中度過了多年，親眼目睹了該地區如何塑造並被加密貨幣塑造。隨著香港的共識即將到來，我們倆都將成為演講者，我們計劃討論亞洲的加密採用趨勢。但是我們最終談論了CEX的問題。

DEX appeal

DEX上訴

For CEX users, waking up on Monday was a brutal realization: they'd already missed out on nearly 41,000% in potential gains. This was particularly gut wrenching since it wasn't just another obscure memecoin popping off in some niche corner of the internet; it was a headline-dominating asset tied to the newly re-elected U.S. president, and still, CEXs couldn't move fast enough.

對於CEX用戶而言，週一醒來是一個殘酷的認識：他們已經錯過了近41,000％的潛在收益。這尤其令人震驚，因為這不僅僅是在互聯網的某個利基角出現的另一個晦澀的成員。這是與新當選的美國總統相關的標題為主題的資產，儘管如此，CEXS仍無法採取足夠的速度。

Meanwhile, in just 72 hours, Solana's DEX users recorded an unprecedented $28 billion in trading volume, largely driven by $TRUMP and the fast-following $MELANIA token. This level of DeFi engagement was unimaginable barely a few years ago, when DEXs were considered too complex for the average trader to use. But that's no longer the case, which suggests that DeFi isn't just an alternative to CEXs; it might just overtake them.

同時，在短短的72小時內，Solana的DEX用戶記錄了前所未有的280億美元交易量，這在很大程度上是由$ TRUMP和快速關注的$ Melania Token驅動的。幾年前，這種Defi參與程度幾乎是無法想像的，當時DEX被認為太複雜了，無法使用普通交易者。但事實並非如此，這表明DEFI不僅是CEXS的替代品。它可能會超越他們。

“The experience with decentralized exchanges is superior compared to centralized exchanges, and people gravitate to that — that's what I'm seeing in the market right now,” Ong told me.

Ong告訴我：“與集中式交流相比，分散交流的經驗優越，人們對此充滿信心 - 這就是我現在在市場上看到的。”

How times have changed

時代的變化如何

Back in 2020, CoinGecko's Yearly Crypto Report showed that while combined CEX and DEX trading volumes surged by $403 billion to $534 billion, CEXs accounted for 93% of that growth. Fast-forward to 2024 and that same annual report revealed that the top 10 spot DEXs had done $1.76 trillion in volume all on their own. Additionally, in Q4 of 2024, Solana overtook Ethereum for the first time as the dominant chain, reaching $219.2 billion in DEX trading volume, or over 30% of all DEX trades, compared to Ethereum's $184.3 billion.

早在2020年，Coingecko的年度加密報告顯示，儘管CEX和DEX交易量飆升了4030億美元，至5340億美元，但CEXS佔該增長的93％。快進到2024年，同樣的年度報告顯示，前10名DEXS自行完成了1.7.6萬億美元的數量。此外，在2024年第四季度，Solana首次超過以太坊的主要連鎖店，與以太坊的1.843億美元相比，DEX交易量達到2192億美元，佔所有DEX交易的30％以上。

Particularly with Solana, the ecosystem has been built with a strong emphasis on mobile applications. Wallets like Phantom and Jupiter are designed to be user-friendly for mobile trading, which is critical since

特別是在Solana的情況下，生態系統是建立在移動應用程序上的重點。幻影和木星等錢包的設計目的是對移動交易的用戶友好，這很重要，因為