In conclusion, DEX is in a phase of rapid evolution. With the advent of new technologies and innovative practices, DEX has a plethora of possibilities ahead. MUFEX, being an industry leader, is expected to offer valuable insights into the development of DEX. Whether DEX can ultimately replace CEX depends on several variables including regulatory policies, technological advancements, and market acceptance. However, under the guidance of exchanges like MUFEX, DEX will continue to mature and challenge the dominance of CEX.
The biggest difference between a centralized exchange and a decentralized exchange is that a centralized exchange requires users to complete KYC verification and comply with rules and regulations imposed by the authorities, while a decentralized exchange operates without a license and requires nothing of that sort, now to come to the point, authorities are starting to notice decentralized exchanges and might be planning to impose regulations on them as well, once that is done, people wouldn't prefer decentralized exchanges at all.
A CEX provides way more features and offers than a DEX and users like that, that is the reason why there is more than enough liquidity on CEXs and DEXs suffer from lack of liquidity most of the time even for the tiniest tokens that have been released recently, the reason is that people prefer using centralized exchanges more often.