About the evolution of cryptocurrency exchanges
Compared to the traditional market the number of cryptocurrency exchanges is much higher than usual. However, not all of them offer services that are worthy of creating a separate site. The emergence of decentralized systems (such as Idex and Oasis) threw a challenge to the exchange community. They do not require any documents, and the registration process takes only a few minutes. Such areas were a natural development of a decentralized movement.
With the growth of liquidity of these exchanges to the attention of the regulators towards them was getting closer. With trading volumes that exceed $ 1 billion, decentralized exchange turned into a full-fledged market participants. Some sites chose to become centralized, to follow the dictates of the authorities and to protect assets held in accounts.