Retail, quants drive DEX adoption as institutions stick with CEXs: Bitget

Retail and quants are fueling DEXs like Hyperliquid, while CEXs hold institutional ground. Aster’s rise adds new pressure to the onchain race.

Decentralized exchanges (DEXs) are rapidly gaining traction among retail traders and quants, while institutions continue to favor centralized platforms, according to Bitget Wallet’s chief marketing officer Jamie Elkaleh.

Elkaleh told Cointelegraph that the strongest adoption of platforms like Hyperliquid is “coming from retail traders and semi-professional quants.” Retail users are drawn in by airdrop cultures and points systems, while quants favor “low fees, fast fills, and programmable strategies,” he said.

However, institutional desks still rely on centralized exchanges (CEXs) due to their support for fiat rails, compliance services and prime brokerage offerings.

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