Quick TakeToday over 99% of crypto trading takes place on centralized exchanges (CEXs), but the trend is shifting to non-custodial or decentralized exchanges (DEXs) at a faster pace Looking ahead, more users are expected to get shifted to DEXs, although challenges remain, protocol operators told The BlockUniswap founder Hayden Adams said when more fiat is tokenized, and there is more interest in trading between on-chain assets, that’s when “DEXs would crush CEXs”However, the real challenge for DEX operators is to convert CEX users, FTX CEO Sam Bankman-Fried told The Block