CEX

CEXs are platforms managed by centralized organizations that facilitate the trading of cryptocurrencies, offering high liquidity and user-friendly fiat on-ramps. Leaders like Binance, OKX, and Coinbase serve as the primary gateways for institutional and retail entry. In 2026, the industry focus is on Proof of Reserves (PoR), enhanced regulatory compliance, and hybrid models that offer self-custody options. This tag provides updates on exchange security, listings, and global market trends.

4245 Articles
Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
Hyperliquid Matches Coinbase with $2.74 Trillion in Perpetuals Volume

Hyperliquid Matches Coinbase with $2.74 Trillion in Perpetuals Volume

Hyperliquid has recorded $2.74 trillion in perpetual futures trading volume so far this year, matching the trading activity of major centralized exchange Coinbase, according to CoinGecko's latest research. This remarkable achievement positions the decentralized derivatives platform among the top tier of cryptocurrency trading venues and highlights the rapid growth of on-chain perpetual futures markets.

Author: MEXC NEWS
AI Forecast: Blazpay Named Best Crypto Presales to Buy Now While Bitcoin Awaits a Breakout

AI Forecast: Blazpay Named Best Crypto Presales to Buy Now While Bitcoin Awaits a Breakout

The crypto market is turning into a battlefield where early-stage winners are being crowned faster than ever. While Bitcoin analysts debate whether a $150K breakout is approaching, Blazpay is quietly doing what big caps can’t: offering a low entry point, an accessible presale, and explosive upside potential that only early adopters get to experience. Bitcoin […] The post AI Forecast: Blazpay Named Best Crypto Presales to Buy Now While Bitcoin Awaits a Breakout appeared first on TechBullion.

Author: Techbullion
Crucial Update: OKX to Delist Spot Trading for 5 Major Altcoins – What You Must Know

Crucial Update: OKX to Delist Spot Trading for 5 Major Altcoins – What You Must Know

BitcoinWorld Crucial Update: OKX to Delist Spot Trading for 5 Major Altcoins – What You Must Know In a significant move for crypto traders, OKX has announced it will delist spot trading for five digital assets. This decision impacts the trading pairs for ACA, CLV, FOXY, PSTAKE, and RACA on one of the world’s leading exchanges. If you hold any of these tokens, understanding the timeline and your options is essential to […] This post Crucial Update: OKX to Delist Spot Trading for 5 Major Altcoins – What You Must Know first appeared on BitcoinWorld.

Author: bitcoinworld
Revolutionary Decentralized Clearinghouse Launches: Trade Stablecoins with Zero Fees

Revolutionary Decentralized Clearinghouse Launches: Trade Stablecoins with Zero Fees

BitcoinWorld Revolutionary Decentralized Clearinghouse Launches: Trade Stablecoins with Zero Fees The world of digital finance just got a major upgrade. Fintech innovator Unlimit has launched a groundbreaking platform called Stable.com, positioning it as the first true decentralized clearinghouse for stablecoins. This move directly tackles two of the biggest pain points in crypto: high transaction costs and fragmented liquidity. Imagine a world where swapping between USDC, […] This post Revolutionary Decentralized Clearinghouse Launches: Trade Stablecoins with Zero Fees first appeared on BitcoinWorld.

Author: bitcoinworld
Ourbit SuperCEX's annual mega-event, "Wheel of the Universe," is about to set sail, with a total prize pool of $2.5 million.

Ourbit SuperCEX's annual mega-event, "Wheel of the Universe," is about to set sail, with a total prize pool of $2.5 million.

As 2025 enters its final month, Ourbit SuperCEX is about to launch its annual grand finale – the "Cosmic Wheel" year-end celebration. As one of the most important user appreciation events of the year, this grand event will express gratitude to users worldwide for their long-term support in a more open and generous manner. The event will run from 12:00 (UTC+8) on December 3rd to 00:00 (UTC+8) on December 17th, with a massive prize pool of up to 2.5 million USDT available throughout. Whether you're a seasoned user or a new participant, you can share in the generous rewards at this year-end extravaganza. During the 14-day event, users can earn rewards and platform benefits through three core gameplay modes: Contract Team Tournament (2 million USDT) Team up freely to participate in the contract trading competition. The prize pool unlocks based on the total trading volume, with a maximum of 2,000,000 USDT. The top 50 teams based on their contract trading volume will share the prize money. Card draw event (200,000 USDT card pool + 300,000 USDT prize pool) Users can earn chances to draw cards by completing daily tasks, and participate in a prize pool worth 500,000 USDT. Daily tasks include: contract trading, contract account asset snapshots, Tap Trading tasks, inviting friends, and $BITCH holding tasks. Tap Trading Daily Tasks Participate in price predictions using the daily free BIT virtual currency to earn chances to draw cards in the Cosmic Wheel and receive cash airdrop rewards. 1. How to participate in the entire "Cosmic Wheel" annual gala? Event period: December 3, 12:00 (UTC+8) – December 17, 00:00 (UTC+8) Target audience: All Ourbit CEX users Participation Process: After entering the "Wheel of the Universe" event page, users can accumulate more card draw chances through daily trading, Tap Trading tasks, and inviting friends. These chances can be used to participate in sharing a 500,000 USDT prize pool and have a chance to win ultra-rare platform NFT airdrops. Additionally, users can join or create teams to participate in contract team competitions, vying for a super-luxurious team competition prize pool of up to 2,000,000 USDT. II. Card Draw Event: Share a Super Prize Pool of 500,000 USDT Card drawing is the core gameplay of the entire "Cosmic Wheel". The total prize pool of 500,000 USDT consists of two parts: a 200,000 USDT card collection pool and a 300,000 USDT equivalent prize pool. Each draw guarantees one O/U/R/B/I/T card and has a chance to drop additional high-value rewards such as USDT, $BITCH, trial funds, and platform NFT airdrops. Users can collect all six O/U/R/B/I/T cards to create a complete set. The event will be held in two phases. After each phase, users will share a 200,000 USDT card collection prize pool based on the proportion of their current collection holdings relative to the total number of collections on the platform. Each draw will yield at least one card, with a chance to win additional high-value rewards such as USDT, $BITCH, trial funds, and platform NFT airdrops. Phase 1: 12/3 12:00 – 12/10 00:00 (UTC+8) Phase 2: 12/10 00:00 – 12/17 00:00 (UTC+8) III. Contract Team Tournament: Team up to compete for a prize pool of 2,000,000 USDT In the Contract Team Competition, users can freely form teams to compete for a maximum prize pool of 2,000,000 USDT based on their contract trading volume. The prize pool is gradually unlocked as the total contract trading volume increases, with the top 50 teams sharing the rewards proportionally. The team captain receives 20% of the team's reward, and the remaining 80% is distributed according to the trading contributions of each member (maximum 20% per member). Team leader registration period: December 3, 12:00 (UTC+8) – December 15, 00:00 (UTC+8) Team match schedule: December 3, 12:00 (UTC+8) – December 17, 00:00 (UTC+8) Users who did not participate in the team competition can still participate in Tap Trading and the gacha event independently. IV. NFT Section: Commemorative NFTs + Limited NFTs, Connecting to the Future Platform Coin Ecosystem NFTs are the key benefit of this event, divided into Commemorative NFTs (unlimited quantity) and Limited NFTs (limited to 2,000). Users who complete Ourbit's year-end summary or on-chain annual statement will be eligible to mint the Commemorative NFTs, serving as an exclusive "annual badge" to record their transaction journey in 2025. Limited NFTs symbolize ultimate scarcity and future value. When Ourbit platform token is issued in the future, Limited NFT holders will receive a platform token airdrop reward. NFT holders will also receive other high-value platform-exclusive rewards and benefits. A total of 2,000 tokens are available, with 1,000 randomly obtained through a gacha system and 1,000 acquired through subscription. V. Tap Trading Daily Task: Zero-threshold Event Contract Trading Tap Trading is the lightest and most beginner-friendly way to play in this event. Users can participate simply by receiving daily BIT virtual currency predictions of price increases or decreases, without needing to understand leverage or margin calls. All users can receive 3000 BIT virtual currency daily (reset to zero at the end of the day). When the accumulated BIT virtual currency reaches 3,000 / 5,000 / 8,000 / 12,000 / 15,000 on a given day, the corresponding number of draws in the Cosmic Wheel event will be automatically unlocked. Reaching the highest accumulated tier on a given day also gives you a chance to receive a 5 USDT cash reward. With the official launch of the "Cosmic Wheel," Ourbit SuperCEX will bring an unprecedented participation experience to global users with its largest year-long rewards event. Whether you are a seasoned contract trading expert, a player who enjoys completing tasks and collecting rewards, or a Tap Trading newbie looking for the easiest way to participate, you can find your stage in this 14-day journey. A massive reward of 2,500,000 USDT, 2,000 limited-edition core equity NFTs, and multiple random drops will all be available to users during this year-end celebration. As the year draws to a close, the grand event has begun. Join the "Wheel of the Universe" now—and celebrate good fortune, challenge the highest peaks, and win your annual glory with users worldwide! About Ourbit Ourbit SuperCEX was founded by a team of former top-tier exchange founders and industry veterans with extensive experience in the well-known Meme coin ecosystem, including SPX6900, Harry Potter, Obama, Sonic10Inu, and others. Ourbit focuses on zero-fee spot trading and boasts the most comprehensive range of Meme coin contract/spot trading pairs on the market, with some contract pairs offering leverage up to 200x.

Author: PANews
Liquidations and Shiba Inu burn rate surge reshape leverage risk in volatile market

Liquidations and Shiba Inu burn rate surge reshape leverage risk in volatile market

Recent volatility in the crypto market has underscored how quickly sentiment can shift for Shiba Inu, even when technical signals briefly turn positive. Shiba Inu rebound fizzles as leverage unwinds Shiba Inu enjoyed a short-lived bounce after four consecutive days of losses, giving traders a momentary sense of relief. The meme coin climbed 4% to […]

Author: The Cryptonomist
Crypto Trading Volumes Hit November Low, Hinting at Unpredictable Market Swings

Crypto Trading Volumes Hit November Low, Hinting at Unpredictable Market Swings

The post Crypto Trading Volumes Hit November Low, Hinting at Unpredictable Market Swings appeared on BitcoinEthereumNews.com. Crypto trading volumes in November 2025 dropped to $1.6 trillion, marking the lowest level since June and signaling reduced market activity across major exchanges like Binance and Coinbase. This decline reflects fading trader confidence amid ongoing price volatility. Crypto trading volumes hit a yearly low in November 2025, falling 20% from October to $1.6 trillion. Both centralized exchanges (CEXs) and decentralized exchanges (DEXs) experienced significant drops in activity. DEX volumes totaled around $399 billion over 30 days, down 22% week-over-week, according to DeFiLlama data. Crypto trading volumes plunge in November 2025: Discover why activity hit $1.6 trillion low and what it means for market momentum. Stay informed on key trends—read more now! What Caused the Decline in Crypto Trading Volumes in November 2025? Crypto trading volumes in November 2025 plummeted to approximately $1.6 trillion, the lowest since June, as traders pulled back from the market following months of erratic price movements. This drop was widespread, affecting major platforms and indicating a broader slowdown in participation. Data from The Block highlights a consistent downward trend since the late-2024 surge, with no significant recovery in sight. The reduction stems from heightened uncertainty in the cryptocurrency sector, where investors await clearer regulatory signals and macroeconomic improvements. Centralized exchanges, which dominate trading, saw uniform declines, underscoring a lack of fresh catalysts to drive engagement. How Do DEX Volumes Compare to CEXs in This Downturn? Decentralized exchanges (DEXs) mirrored the struggles of centralized ones, with daily volumes hovering at $8.1 billion and monthly totals reaching $399 billion—a 22% decrease from the prior week, per DeFiLlama. This is a stark contrast to earlier 2025 peaks, where DEX activity routinely exceeded $30 billion daily in January and February. Supporting data shows that even brief upticks, like in October, failed to sustain momentum, leaving volumes in the $5-15…

Author: BitcoinEthereumNews
Crypto News Today [Live] Updates On December 2,2025 : Federal Reserve News, Bitcoin Price Today, Ethereum Price And XRP Price

Crypto News Today [Live] Updates On December 2,2025 : Federal Reserve News, Bitcoin Price Today, Ethereum Price And XRP Price

The post Crypto News Today [Live] Updates On December 2,2025 : Federal Reserve News, Bitcoin Price Today, Ethereum Price And XRP Price appeared first on Coinpedia Fintech News December 2, 2025 07:43:44 UTC Bitcoin News Today: Grayscale Says BTC Could Break Tradition and Hit New Highs in 2026 Grayscale Research believes Bitcoin may set fresh all-time highs in 2026, challenging the usual four-year cycle pattern. The firm notes that this cycle lacks the typical retail-driven parabolic surge, with institutional inflows taking the lead …

Author: CoinPedia
LatAm’s Largest Crypto Exchange to Help Boost Crypto in 2026 with Multiplatform Perps Aggregator and Token Launch

LatAm’s Largest Crypto Exchange to Help Boost Crypto in 2026 with Multiplatform Perps Aggregator and Token Launch

Bitso has been an active player in the mainstream adoption of crypto assets in Latin America (LATAM). The veteran cryptocurrency exchange founded in 2014 reports that its customers across LATAM  increased by 12% to 9 million in 2024 compared to the prior year. According to Bitso Business, the blockchain technology and crypto assets will play […] The post LatAm’s Largest Crypto Exchange to Help Boost Crypto in 2026 with Multiplatform Perps Aggregator and Token Launch appeared first on Live Bitcoin News.

Author: LiveBitcoinNews
Who's making a fortune in a bear market? Unveiling the money-printing logic of CEXs, stablecoins, and KOLs.

Who's making a fortune in a bear market? Unveiling the money-printing logic of CEXs, stablecoins, and KOLs.

Author: Viee, a core contributor to Biteye Edited by: Denise, a core contributor to Biteye After the bubble bursts, what will be the bottom line for the survival of crypto projects? In an era where anything could be told a story and anything could be overvalued, cash flow didn't seem essential. But things are different now. Venture capitalists are withdrawing, and liquidity is tightening. In this market environment, the ability to make money and generate positive cash flow has become the first sieve to test the fundamentals of a project. In contrast, other projects rely on stable income to weather economic cycles. According to DeFiLlama data, in October 2025, the top three highest-grossing crypto projects generated $688 million (Tether), $237 million (Circle), and $102 million (Hyperliquid) respectively in a single month. In this article, we'll discuss projects with real cash flow. They mostly revolve around two things: transactions and attention. These two fundamental sources of value in the business world are no exception in the cryptocurrency arena. 01. Centralized Exchanges: The Most Stable Revenue Model In the cryptocurrency world, it's no secret that "exchanges are the most profitable." Exchanges primarily generate revenue from transaction fees and listing fees. Take Binance, for example; its daily spot and futures trading volume has consistently accounted for 30-40% of the entire market. Even in the sluggish market of 2022, its annual revenue reached $12 billion, and during this bull market cycle, revenue will only be higher. (Data from CryptoQuant) In short: as long as there are transactions, the exchange can generate revenue. Another example is Coinbase, which, as a publicly traded company, has clearer data disclosure. In the third quarter of 2025, Coinbase's revenue was $1.9 billion, with a net profit of $433 million. Transaction revenue was the main source, contributing more than half, with the remaining revenue coming from subscriptions and services. Other leading exchanges such as Kraken and OKX are also steadily making money; Kraken reportedly had revenue of approximately $1.5 billion in 2024. The biggest advantage of these centralized exchanges (CEXs) is that trading naturally generates revenue. Compared to many projects that are still struggling to make their business models viable, they are already genuinely charging for services. In other words, in this phase where storytelling is becoming increasingly difficult and hot money is becoming increasingly scarce, CEXs are among the few players who can survive on their own without needing to raise funds. 02. On-chain projects: PerpDex, stablecoins, public chains According to DefiLlama data as of November 27, 2025, the top ten on-chain protocols with the highest revenue over the past 30 days are shown in the figure. This reveals that Tether and Circle firmly hold the top positions. Leveraging the interest rate spread between US Treasury bonds and USDT and USDC, these two stablecoin issuers earned nearly $1 billion in a single month. Hyperliquid follows closely behind, firmly holding the title of "most profitable on-chain derivatives protocol." Furthermore, the rapid rise of platforms like Pumpfun further validates the old logic that "selling coins is worse than trading them, and selling tools is worse than selling shovels" still holds true in the crypto industry. It is worth noting that some dark horse projects, such as Axiom Pro and Lighter protocols, have already shown positive cash flow paths, even though their overall revenue is not large. 2.1 PerpDex: Real-world returns from on-chain protocols This year, the best performing PerpDex is Hyperliquid. Hyperliquid is a decentralized perpetual contract platform with its own independent blockchain and built-in matching mechanism. Its explosive growth was quite sudden; in August 2025 alone, it completed $383 billion in transactions and generated $106 million in revenue. Furthermore, the project uses 32% of its revenue to buy back and burn platform tokens. According to a report yesterday by @wublockchain12, the Hyperliquid team unlocked 1.75 million HYPE tokens (out of 60.4 million), without external funding or selling pressure, using protocol revenue to buy back tokens. For an on-chain project, this is approaching the revenue efficiency of a centralized exchange. More importantly, Hyperliquid actually earns money and then gives it back to the token economy system, establishing a direct link between protocol revenue and token value. Let's talk about Uniswap. In recent years, Uniswap has been criticized for taking tokens for free, for example, charging 0.3% on each transaction but giving it all to LPs, and UNI holders receiving no income at all. Until November 2025, Uniswap announced plans to implement a protocol fee-sharing mechanism and use a portion of its historical revenue to buy back and burn UNI tokens. Calculations suggest that if this mechanism had been implemented earlier, the funds available for burning in the first ten months of this year alone would have reached $150 million. Upon the announcement, UNI surged 40% that day. Although Uniswap's market share has fallen from a peak of 60% to 15%, this proposal could still reshape UNI's fundamentals. However, after the proposal was released, @EmberCN detected that an investment institution (possibly a Variant Fund) transferred millions of $UNI ($27.08 million) to Coinbase Prime, suggesting a possible pump-and-dump scheme. Overall, the old DEX model that relied on airdrops to hype up prices is becoming increasingly unsustainable. Only projects that truly generate stable revenue and complete their business cycle are likely to retain users. 2.2 Stablecoins and Public Blockchains: Earning Money Passively Through Interest Beyond transaction-related projects, a number of infrastructure projects are also attracting investment. Among these, stablecoin issuers and frequently used public blockchains are the most typical examples. Tether: The Giant That Continues to Print Money Tether, the company behind USDT, has a very simple profit model: whenever someone deposits $1 in exchange for USDT, Tether uses that money to buy low-risk assets such as government bonds and short-term notes to earn interest, which it keeps for itself. As global interest rates rise, Tether's profits also increase. Its net profit reached $13.4 billion in 2024 and is projected to exceed $15 billion in 2025, approaching that of traditional financial giants like Goldman Sachs. @Phyrex_Ni recently posted that despite its rating downgrade, Tether remains a cash cow, earning over $130 billion in collateral from US Treasury bonds. While USDC issuer Circle has a slightly smaller circulating supply and net profit, its total revenue in 2024 still exceeded $1.6 billion, with 99% coming from interest income. It's worth noting that Circle's profit margin isn't as exorbitant as Tether's, partly due to its revenue-sharing partnership with Coinbase. In short, stablecoin issuers are essentially money-printing machines; they don't raise funds through storytelling, but rather by having users willing to deposit their money with them. In a bear market, these savings-oriented projects actually thrive. @BTCdayu also believes stablecoins are a good business, printing money and collecting interest worldwide, and is optimistic that Circle will be the king of passive income in the stablecoin market. Public blockchains: Relying on traffic, not incentives. Looking at the mainnet public blockchain, the most direct way to monetize is through gas fees. The data in the following chart is from Nansen.ai: Looking at total transaction fee revenue across public blockchains over the past year provides a clearer picture of which chains have truly generated practical value. Ethereum's annual revenue was $739 million, remaining its primary source of income, but it declined by 71% year-over-year due to the Dencun upgrade and L2 cache diversion. In contrast, Solana's annual revenue reached $719 million, a 26% increase year-over-year, driven by the popularity of memes and AI agents, resulting in a significant boost in user activity and interaction frequency. Tron's revenue was $628 million, an 18% increase year-over-year. Bitcoin's annual revenue, however, was only $207 million, primarily affected by a decline in inscription trading activity, resulting in a significant overall drop. BNB Chain's annual revenue reached $264 million, a year-on-year increase of 38%, ranking first among mainstream public chains in terms of growth rate. Although its revenue scale is still lower than ETH, SOL, and TRX, the growth in its transaction volume and active addresses indicates that its on-chain use cases are expanding and its user structure is becoming more diversified. BNB Chain as a whole demonstrates strong user retention and genuine demand. This stable revenue growth structure also provides clearer support for the continued evolution of its ecosystem. These public blockchains are like "water sellers"; whoever is panning for gold in the market will always need their water, electricity, and roads. While these infrastructure projects may not have short-term explosive growth potential, their strength lies in their stability and resilience to economic cycles. 03. Businesses surrounding KOLs: Attention can also be monetized If transactions and infrastructure are the overt business models, then the attention economy is the "hidden business" in the crypto world, such as KOLs and agencies. This year, crypto KOLs have become the center of attention and traffic. Influential figures active on platforms like Twitter, Telegram, and YouTube leverage their personal influence to develop diversified revenue streams: from paid promotions and community subscriptions to monetizing courses. Industry rumors suggest that mid-tier and above crypto KOLs can earn up to $10,000 per month through promotions. Meanwhile, audiences are demanding higher-quality content, so KOLs who weather economic cycles are often those who have earned user trust through professionalism, sound judgment, or deep engagement. This has also subtly reshaped the content ecosystem during bear markets, eliminating those who are short-sighted and retaining those who prioritize long-term commitment. Of particular note is the third layer of attention monetization: KOL (Key Opinion Leader) funding rounds. This makes KOLs key participants in the primary market: acquiring project tokens at a discount, undertaking traffic exposure tasks, and exchanging "early-stage leverage through influence"—a model that bypasses venture capital. A whole suite of matchmaking services has emerged around KOLs themselves. Agencies have begun to act as traffic intermediaries, matching projects with suitable KOLs, making the entire process increasingly resemble an advertising placement system. If you are interested in the business models of KOLs and agencies, you can refer to our previous long article, "Unveiling the KOL Round: A Wealth Experiment Driven by Traffic" (https://x.com/BiteyeCN/status/1986748741592711374), to gain a deeper understanding of the true profit structure behind it. In short, the attention economy is essentially a monetization of trust, and trust is even scarcer in a bear market, making the threshold for monetization even higher. 04. Conclusion Projects that have managed to maintain cash flow during the crypto winter largely demonstrate the two cornerstones of "transactions" and "attention". On the one hand, whether centralized or decentralized, trading platforms can generate continuous revenue through transaction fees as long as they have stable user trading activity. This direct business model allows them to remain self-sufficient even when capital exits. On the other hand, KOLs (Key Opinion Leaders) who focus on user attention monetize user value through advertising and services. In the future, we may see more diverse models, but in any case, projects that have accumulated real revenue during periods of poor market conditions will have a greater chance of leading new development. Conversely, some projects that rely solely on storytelling and lack the ability to generate revenue may experience a short-term surge in popularity, but ultimately they may be forgotten.

Author: PANews