TechFlow reported on October 28 that, according to data from The Block and DefiLlama, decentralized exchanges (DEXs) accounted for 14.12% of spot trading volume relative to centralized exchanges (CEXs) in October, the highest level since May 2023.
The metric reflects the monthly percentage comparison of DEX trading volume against CEX trading volume, with flash loan transactions excluded to ensure data accuracy—these are transactions where traders borrow large amounts to execute high-volume trades before immediately repaying the loan.





