Decentralized exchanges had a large jump in cryptocurrency trading volume in March as U.S. regulators went after their centralized counterparts including Kraken, Coinbase and Binance.
Volume on DEXs reached $133.1 billion, the third consecutive monthly increase and the highest monthly total since May, according to DefiLlama data
Problem with majorify of those "decentralized exchanges" is that they are not really decentralized. Good example of that is Pancakeswap that is based on highly centrazlied BSC so how decentrazlied it can be in the end? In the same time, truly decentralized Bisq has only ~$100k daily volume so it makes it very costly to buy/sell any bigger amount of bitcoin.
That’s led some to speculate crypto traders will shift to DEXs, and the DefiLlama data suggests that could be happening.
I don't see that happening in foreseeable future as people prefer convenience and sense of (false) security over everything else.
I am using centralized exchanges from time to time but I am not keeping anythin there for more than a couple of days, fully knowing that every time I send my money there it might be the last time I see it.
I agree with your perspective that many so-called decentralized exchanges (DEXs) in the cryptocurrency industry have not fully achieved decentralization, like PancakeSwap on the Binance Smart Chain (BSC). However, there are still truly decentralized exchanges, such as Uniswap. To identify genuine DEXs, we need to consider the following factors:
The underlying blockchain on which they are deployed should be decentralized. BSC, for instance, is not truly decentralized, so DApps built on it cannot be considered fully decentralized either. In contrast, Ethereum and several prominent Layer-2 chains offer a more decentralized infrastructure. Therefore, when choosing DEXs or Transparent Exchanges (TEXs), opt for those deployed on Ethereum or major Layer-2 chains, keeping in mind that Ethereum has higher gas costs, while Layer-2 chains offer lower gas fees.
Another essential factor is whether the exchange's code is entirely open-source and has been audited by professional auditing firms and technical experts. This helps ensure the integrity and security of the platform.