The introduction of DEX integration features by centralized exchanges (CEX), transforming them into hybrid platforms, reflects a growing trend of blending centralization and decentralization to attract both traditional users and DeFi enthusiasts.

With increasing regulatory pressure on CEX, like KYC and AML requirements, decentralized exchanges (DEX) have become a more appealing option due to their anonymity and decentralized nature. Integrating DEX functionalities allows CEX to retain users while still complying with regulations.

CEX-DEX Integration for Growth

CEX and DEX represent the two primary exchange models in the crypto market. The boundaries between the two types of exchanges are increasingly blurred in today’s evolving market. Both models are beginning to adopt and integrate each other’s strengths to meet users’ growing and diverse demands.

Recently, several centralized exchanges have launched hybrid platforms. For example, Binance introduced Binance Alpha 2.0 (another updated version of Binance Alpha), enabling CEX users to purchase DEX tokens without withdrawals, combining CEX convenience with access to decentralized tokens.

Similarly, MEXC launched DEX+, blending on-chain and off-chain trading for a seamless experience. This reflects a trend of integrating centralization and decentralization to appeal to traditional users and DeFi participants.

“This is a brilliant move. Allowing CEX users to buy any DEX tokens directly from the CEX, no withdrawals needed.” said former Binance CEO CZ.

Interestingly, DEXs started gaining prominence in 2020. They slightly surpassed CEX in on-chain trading volume in 2020, and peaked in 2021. The rise of platforms like Solana contributed to this sudden growth. But DEXs slowly started losing momentum in 2022 and 2023.

According to a report by OAK Research, at the beginning of 2024, DEXs accounted for just 9.3% of the trading volume market share compared to CEXs. However, in January 2025, DEXs surpassed $320 billion in monthly trading volume as they captured over 20% of the spot trading volume for the first time in crypto history.

Similaryly, according to data from DeFiLlama, Total Value Locked (TVL) in DEX was approximately $163.6 billion at the beginning of 2022. In 2023, the TVL dropped to around $52 billion and stayed around the same figure for most of 2024.

Nevertheless, by December 2024, this figure had surged to around $140 billion, marking an increase of nearly 160% since the beginning of the year. This shows the rising preference for DEXs among crypto traders.

According to CoinGecko, around 959 DEX platforms are now active in 2025, compared to 217 CEXs.

Benefits and Challenges of CEX-DEX Integration

The current differences between CEX and DEX creates disadvantages for users. As a result, users seek to combine the strengths of both models: the speed and liquidity of CEX with the control and transparency of DEX. The launches of Binance Alpha 2.0 and MEXC DEX+ demonstrate how major exchanges are addressing this need.

Moroever, DEXs led innovation in the current cycle with AMMs and liquidity pools, forcing CEXs to adapt to avoid falling behind.

With mounting regulatory pressure on CEXs, the anonymity and decentralization of DEXs make it more attractive. DEX integration enables CEX to retain users while navigating compliance.

However, creating hybrid platforms comes with challenges. Integrating on-chain and off-chain systems requires complex infrastructure, potentially leading to errors or high gas fees for DEX users. Additionally, hybrid platforms may face stricter regulatory scrutiny, especially when combining CEX’s fiat-to-crypto trading with decentralized tokens.

Despite these hurdles, given the advantages outlined, hybrid platforms like Binance Alpha 2.0 and MEXC DEX+ will continue to emerge.

The US Dollar Index (DXY) fell following the latest Federal Open Market Committee (FOMC) meeting. This turnout triggered discussions about its implications for Bitcoin (BTC) and broader liquidity conditions.

Meanwhile, Bitcoin price reclaimed the $85,000 range. However, prospects for more gains remain debatable as the pioneer crypto continues in a horizontal chop.

Fed Revises Economic Projections Amid Growth Concerns

Market analysts and crypto experts suggest the declining dollar could create a more favorable environment for Bitcoin’s price recovery. This optimism comes despite lingering macroeconomic concerns.

On one hand, President Donald Trump is putting political pressure on the Federal Reserve (Fed), urging it to cut rates.

“The Fed would be MUCH better off CUTTING RATES as US Tariffs start to transition (ease!) their way into the economy. Do the right thing,”  Trump wrote on Truth Social.

These remarks indicate potential political battles over monetary policy, further affecting risk asset performance.

However, the FOMC rejected further interest rate cuts, and the Fed made significant downward revisions to its 2025 economic projections. This painted a picture of weaker growth and persistent inflation.

The Fed cut its GDP growth forecast from 2.1% to 1.7% while raising its unemployment projection to 4.4%. Inflation expectations also increased, with PCE inflation forecasted at 2.7% and core PCE inflation at 2.8%. Notably, both of these were higher than previous estimates.

These revisions suggest a more challenging economic environment, with the DXY dropping in the aftermath.

Real Vision’s chief crypto analyst, Jamie Coutts, who also built the crypto research product at Bloomberg Intelligence, commented on the turnout. In a post on X (Twitter), the analyst argued that quantitative tightening (QT) is effectively dead for the near future.

Coutts points to the decline in Treasury yield volatility and its correlation with the DXY downturn. He says these are key indicators of increased liquidity, which is generally bullish for Bitcoin.

“After last night, QT is effectively dead (for some time). Treasury volatility has backed right off and is now mirroring the decline in DXY from earlier this month. This is all extremely liquidity-positive,” Coutts noted.

However, not everyone agrees on the extent of QT’s slowdown. Analyst Benjamin Cowen cautions that QT is still ongoing, albeit at a reduced pace.

“QT is not ‘basically over’ on April 1st. They still have $35 billion per month coming off from mortgage-backed securities. They just slowed QT from $60 billion per month to $40 billion per month,” Cowen wrote.

Bitcoin and the Dollar: A Delayed Reaction?

One of the most compelling arguments for Bitcoin’s potential recovery comes from VanEck’s Head of Digital Assets Research, Mathew Sigel. He points out that Bitcoin has historically tracked an inverted DXY on a 10-week lag. This suggests that the current downturn in BTC prices could be a delayed reaction to the strong dollar in late 2024.

If the pattern holds, the recent weakness in DXY could set the stage for a bullish phase in Bitcoin over the coming months.

Meanwhile, BitMEX co-founder Arthur Hayes is more cautious about Bitcoin’s trajectory. While he acknowledges that QT is slowing, he questions whether liquidity injections in the European Union—driven by military spending—could overshadow the US’s financial shifts.

“Will the re-arming of the EU paid for with printed EUR overwhelm the near-term negative fiscal impulse of the US? That’s the big macro question. If yes, correction over. If no, hold on to your butts,” Hayes wrote.

Hayes also speculated that Bitcoin’s recent drop to $77,000 might have marked the bottom. However, he warned that traditional markets might face further downside, which could influence crypto in the short term.

Based on these, the post-FOMC environment presents a mixed outlook for Bitcoin. On the one hand, falling DXY, lower Treasury yield volatility, and slowing QT point to increasing liquidity, a historically positive signal for BTC.

On the other hand, macroeconomic risks—including rising corporate bond spreads and potential instability in traditional markets—could still create headwinds.

With Bitcoin’s historical lag behind DXY movements, the coming weeks will reveal if a delayed rally materializes. Meanwhile, global liquidity conditions and political developments remain key factors that could influence Bitcoin’s next major move.

BeInCrypto data shows BTC was trading for $85,832 at press time. This represents a modest gain of almost 4% in the last 24 hours.

Cryptocurrency exchange Kraken is reportedly in advanced talks to acquire NinjaTrader, a futures trading platform, in a deal valued at approximately $1.5 billion. 

The move highlights Kraken’s strategy to expand its user base and diversify into a wider range of asset classes.

Is Kraken About to Make a $1.5 Billion Move into Futures Trading?

Neither Kraken nor NinjaTrader has officially confirmed the negotiations. However, sources close to the situation told The Wall Street Journal that the deal could be finalized as early as March 20.

“A deal would allow Kraken to offer crypto futures and derivatives in the US thanks to NinjaTrader’s registration as a so-called Futures Commission Merchant,” WSJ reported.

US-based NinjaTrader would reportedly continue to operate as an independent platform within Kraken’s broader portfolio of trading and payment solutions. Kraken is also expected to play a key role in accelerating NinjaTrader’s expansion into new international markets, including the UK, continental Europe, and Australia. As per WSJ’s report,

“The deal would help Kraken build on the company’s goals to work across several asset classes, including plans for equities trading and payments.”

For context, NinjaTrader is an advanced futures trading platform. It allows users to trade various financial instruments, including index futures, commodity futures, and cryptocurrency futures. 

The platform is renowned for its trading simulation feature, sophisticated charting tools, real-time analytics, and customizable trading interfaces. These features have earned it a user base of 1.9 million customers. Financial data from Growjo revealed that NinjaTrader Group generates annual revenue of approximately $55.3 million.

Meanwhile, Kraken has long been a prominent player in the crypto exchange arena. The exchange recently reported a revenue of $1.5 billion and adjusted earnings of $380 million for 2024.

Additionally, Kraken has also climbed to third place in Kaiko’s Q1 2025 exchange rankings. This marked a notable improvement from seventh place the previous year. This rise reflects Kraken’s growing dominance among the 44 largest centralized cryptocurrency exchanges.

As part of its efforts to enhance offerings and solidify its market position, Kraken also introduced a new colocation service on March 17. Designed to provide clients with ultra-fast execution, the service aims to boost trading performance and scalability while ensuring fair and transparent access to global crypto markets. 

Furthermore, Kraken is reportedly seeking to go public as early as the first quarter of next year. This development follows the US SEC dropping its lawsuit against the exchange, clearing a major regulatory hurdle.