Coinbase的大賭注：DEX交易和App Vision的所有內容

Coinbase通過Dex Trading更深入地進入Defi，旨在成為您的一站式加密貨幣商店。這是加密的未來，還是另一個搖擺？

Coinbase's Big Bet: DEX Trading and the Everything App Vision

Coinbase的大賭注：DEX交易和App Vision的所有內容

Coinbase is making moves, y'all! They're diving headfirst into the world of decentralized exchanges (DEX) and doubling down on their ambition to become the 'everything app' for crypto. What does this mean for you? More options, more control, and maybe a little more complexity. Let's break it down.

Coinbase正在做動作，大家！他們首先跳入了分散交流（DEX）的世界，並雄心勃勃地成為加密貨幣的“一切應用程序”。這對您意味著什麼？更多選項，更多的控制，也許更複雜。讓我們分解。

DEX Trading: A Step Towards Decentralization

DEX交易：邁向權力下放的一步

Coinbase is now letting users trade directly on decentralized exchanges like Uniswap and Aerodrome, right from their platform. According to Max Branzburg, Coinbase’s VP of Product, this new feature routes trades on-chain through DEX aggregators such as 0x and 1inch, pulling liquidity from decentralized markets. Why is this a big deal? Because it gives you direct access to blockchain-based liquidity pools without having to move your funds off Coinbase. Think of it as Coinbase giving you a backstage pass to the DeFi party.

Coinbase現在可以讓用戶直接從其平台上進行分散的交易所（例如Uniswap和Aerodrome）進行交易。根據Coinbase產品副總裁Max Branzburg的說法，該新功能通過DEX聚合器（例如0x和1英寸）的鏈交易，從分散市場中吸引了流動性。為什麼這很重要？因為它使您可以直接訪問基於區塊鏈的流動性池，而無需將資金從Coinbase撤離。可以將其視為共插的基礎，可以讓您在Defi Party的後台傳球。

DEX trading is appealing because it gives users self-custody and permissionless access. Instead of trusting a central exchange, transactions are executed directly on the blockchain. This can mean access to more assets, faster listings, and potentially lower fees. Plus, you don't have to trust an intermediary with your funds. Of course, there are risks, like smart contract bugs and volatile markets. But hey, no risk, no reward, right?

DEX交易很有吸引力，因為它為用戶提供了自我顧客和無許可的訪問權限。交易直接在區塊鏈上執行，而不是信任中央交易所。這可能意味著訪問更多資產，更快的列表以及潛在的較低費用。另外，您不必信任帶有資金的中介。當然，存在風險，例如智能合約錯誤和動蕩的市場。但是，嘿，沒有風險，沒有回報，對嗎？

Coinbase's Bitcoin Bullishness

Coinbase的比特幣看漲

Coinbase CEO Brian Armstrong is also a big believer in Bitcoin, advocating it as superior to gold due to its divisibility, portability, and efficiency. He even mentioned that Coinbase has been actively increasing its Bitcoin holdings. This isn't just talk; it's a strategy that suggests a deeper integration of Bitcoin into Coinbase's long-term financial planning.

Coinbase首席執行官Brian Armstrong也是比特幣的忠實信徒，由於其可分裂性，可移植性和效率，它提倡其優於黃金。他甚至提到Coinbase一直在積極增加其比特幣持有量。這不僅僅是說話；這是一種策略，建議將比特幣更深入地整合到Coinbase的長期財務計劃中。

The Everything App Dream

App Dream的一切

This DEX integration is all part of Coinbase's plan to become the 'everything app' for crypto. They want to be the one-stop-shop where you can buy, sell, trade, and store all your digital assets. By embedding Web3 tools directly into their core platform, they're positioning themselves to capture users who want more control over their crypto experience.

這種DEX集成是Coinbase計劃成為加密貨幣的“一切”應用程序的一部分。他們希望成為您可以購買，出售，交易和存儲所有數字資產的一站式商店。通過將Web3工具直接嵌入其核心平台中，他們將自己定位為捕獲想要更多控制加密體驗的用戶。

The move also follows the relative success of platforms like HyperLiquid, a decentralized derivatives exchange that has notched $11 billion in volume over the past month. It gives users a non-custodial option to trade, essentially removing counterparty risk that came to the spotlight after FTX’s implosion in 2022.

此舉還遵循了諸如Hyproliquid之類的平台的相對成功，這是一種分散的衍生品交易所，在過去一個月中已經達到了110億美元的數量。它為用戶提供了交易的非監護選擇，從本質上消除了FTX在2022年內爆後引起人們關注的對方風險。

The DEX Landscape: A Trillion-Dollar Market

DEX景觀：萬億美元的市場

Speaking of DEXs, did you know that DEX trading volume surpassed $1 trillion in July 2025? That's a massive milestone for the DeFi sector. This surge was driven by record-breaking perpetual futures volume on Hyperliquid, along with growing spot trading activity on BNB Chain and Solana-based DEXs. People are clearly looking for alternatives to centralized exchanges.

說到DEX，您知道DEX交易量在2025年7月超過1萬億美元嗎？這是辯護部門的巨大里程碑。這次激增是由超級流動性的創紀錄的永久性期貨量以及BNB鍊和基於索拉納的DEX上日益增長的現貨交易活動所驅動的。人們顯然正在尋找集中交流的替代方案。

While DEX volume has seen some consolidation since then, the overall trend is clear: decentralized trading is here to stay. This is largely due to the growing infrastructure and innovation within blockchain ecosystems, particularly as more traders seek alternatives to centralized platforms.

自那以後，儘管DEX量已經進行了一些整合，但總體趨勢很明顯：分散交易將在這裡留下來。這在很大程度上是由於區塊鏈生態系統中不斷增長的基礎設施和創新，尤其是隨著越來越多的貿易商尋求集中式平台的替代方案。

My Take: Is Coinbase on the Right Track?

我的看法：Coinbase在正確的軌道上嗎？

Coinbase is definitely making some bold moves. Integrating DEX trading is a smart way to attract users who want more control over their assets. And Brian Armstrong's Bitcoin advocacy only strengthens their position in the crypto world. The push towards becoming an 'everything app' is ambitious, but if they can pull it off, Coinbase could become the dominant player in the crypto space. However, regulatory uncertainty remains a significant barrier.

Coinbase肯定會做出一些大膽的動作。集成DEX交易是一種吸引想要更多控制其資產的用戶的明智方式。布萊恩·阿姆斯特朗（Brian Armstrong）的比特幣倡導只會增強其在加密貨幣世界中的地位。朝著成為“一切應用程序”的推動是雄心勃勃的，但是如果他們能夠實現它，Coinbase可能會成為加密貨幣空間中的主要參與者。但是，監管不確定性仍然是一個重大障礙。

It's not all sunshine and roses, though. The DeFi space is still full of risks, and not everyone is comfortable navigating the complexities of decentralized exchanges. Coinbase needs to make sure they're providing a user-friendly experience that caters to both crypto natives and newcomers. Plus, they need to address the regulatory hurdles that are still looming over the industry.

不過，這並不是全部陽光和玫瑰。 Defi空間仍然充滿風險，並不是每個人都在駕駛分散交流的複雜性。 Coinbase需要確保他們提供一種用戶友好的體驗，可以滿足加密本地人和新移民的需求。另外，他們需要解決仍在整個行業迫在眉睫的監管障礙。

The Bottom Line

底線

Coinbase's move into DEX trading and its 'everything app' vision is a bold bet on the future of crypto. Whether it pays off remains to be seen. But one thing is clear: the crypto landscape is constantly evolving, and Coinbase is determined to stay ahead of the curve. So, buckle up, folks! It's going to be an interesting ride.

Coinbase進入DEX交易及其“一切應用”願景是對加密貨幣未來的大膽賭注。是否有回報還有待觀察。但是一件事很清楚：加密景觀正在不斷發展，Coinbase決心保持領先地位。所以，搭扣，伙計們！這將是一個有趣的旅程。