True retail is mostly on CEX's. Folks on DEX's are mainly power users.
Also there are two reasons why DEX's have high volume:
- Long tail of assets are only on DEX's. Average retail isn't buying these
- DEFI protocols utilize DEXs. I would argue most of the volume isn't people trading, rather automatic trading to support protocols like Yearn.finance
Also there are two reasons why DEX's have high volume: - Long tail of assets are only on DEX's. Average retail isn't buying these - DEFI protocols utilize DEXs. I would argue most of the volume isn't people trading, rather automatic trading to support protocols like Yearn.finance