DEX在亚洲的加密货币交易中主导着，CEXS正在争先恐后地跟上

当涉及交易模因时，时间就是金钱 - 等待集中式交流（CEX）可能会花费你们俩。

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

当涉及交易模因，时间至关重要，等待集中式交流（CEX）可能会花费您时间和金钱。

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，让我们考虑一下最近在2025年1月17日推出$ trump Memecoin。就在就职典礼之前，唐纳德·特朗普（Donald Trump）在Solana上发布了他的纪念品，该纪念物在索拉纳（Solana）上飙升，这在分散的交易所（Raydium and Orca）等分散的交易所（DEXS）上飙升了145亿美元的高峰市场上限在不到24小时的时间内，使其成为仅次于Dogecoin的第二大纪念物。

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，当主要的CEXS每天或两次列出$ trump $ trump时（清除了通常的官僚主义rigmarole），该行动已经结束。因此，对于投机者来说，DEX不仅更快。它们更液体，更易变，坦率地，更有趣。在一个市场，即使不是毫秒，在几分钟之内就赚钱了，等待CEX追赶是一个错过的机会。

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$特朗普的纪念躁狂症之后的星期一早上，我与Coingecko的联合创始人Bobby Ong进行了交谈。根据Hypestat.com。 Coingecko成立于2014年，已成长为加密市场数据最受信任的来源。

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实际上已经安排了圣诞节前的电话，所以特朗普几天前就碰巧发起了他的Memecoin。当我们讲话时，我们俩都有相同的反应：到底发生了什么？

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该系列是由香港共识带给您的。来体验Web3和数字资产中最具影响力的活动，2月18日至20日。立即注册，并在Code Coindesk15中节省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.

我已经认识鲍比多年了 - 他是一个真正的OG，是在2013年首次购买比特币，并且是交易习惯在基层水平发展的最敏锐的观察者之一。当他开始使用Coingecko时，这是为了解决自己的问题 - 当时，加密价格跟踪是基本的，并且没有办法分析市场深度，流动性，开发人员活动或社区参与。他想要更好的见解，因此他和他的联合创始人自己构建了工具。

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总部位于马来西亚，而我在菲律宾时，所以我们俩都在亚洲的加密货币场景中度过了多年，亲眼目睹了该地区如何塑造并被加密货币塑造。随着香港的共识即将到来，我们俩都将成为演讲者，我们计划讨论亚洲的加密采用趋势。但是我们最终谈论了CEX的问题。

DEX appeal

DEX上诉

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.

对于CEX用户而言，周一醒来是一个残酷的认识：他们已经错过了近41,000％的潜在收益。这尤其令人震惊，因为这不仅仅是在互联网的某个利基角出现的另一个晦涩的成员。这是与新当选的美国总统相关的标题为主题的资产，尽管如此，CEXS仍无法采取足够的速度。

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.

同时，在短短的72小时内，Solana的DEX用户记录了前所未有的280亿美元交易量，这在很大程度上是由$ TRUMP和快速关注的$ Melania Token驱动的。几年前，这种Defi参与程度几乎是无法想象的，当时DEX被认为太复杂了，无法使用普通交易者。但事实并非如此，这表明DEFI不仅是CEXS的替代品。它可能会超越他们。

“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告诉我：“与集中式交流相比，分散交流的经验优越，人们对此充满信心 - 这就是我现在在市场上看到的。”

How times have changed

时代的变化如何

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的年度加密报告显示，尽管CEX和DEX交易量飙升了4030亿美元，至5340亿美元，但CEXS占该增长的93％。快进到2024年，同样的年度报告显示，前10名DEXS自行完成了1.7.6万亿美元的数量。此外，在2024年第四季度，Solana首次超过以太坊的主要连锁店，与以太坊的1.843亿美元相比，DEX交易量达到2192亿美元，占所有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

特别是在Solana的情况下，生态系统是建立在移动应用程序上的重点。幻影和木星等钱包的设计目的是对移动交易的用户友好，这很重要，因为