Coinbase的大赌注：DEX交易和App Vision的所有内容

Coinbase通过Dex Trading更深入地进入Defi，旨在成为您的一站式加密货币商店。这是加密的未来，还是另一个摇摆？

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

Coinbase的大赌注：DEX交易和App Vision的所有内容

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正在做动作，大家！他们首先跳入了分散交流（DEX）的世界，并雄心勃勃地成为加密货币的“一切应用程序”。这对您意味着什么？更多选项，更多的控制，也许更复杂。让我们分解。

DEX Trading: A Step Towards Decentralization

DEX交易：迈向权力下放的一步

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现在可以让用户直接从其平台上进行分散的交易所（例如Uniswap和Aerodrome）进行交易。根据Coinbase产品副总裁Max Branzburg的说法，该新功能通过DEX聚合器（例如0x和1英寸）的链交易，从分散市场中吸引了流动性。为什么这很重要？因为它使您可以直接访问基于区块链的流动性池，而无需将资金从Coinbase撤离。可以将其视为共插的基础，可以让您在Defi Party的后台传球。

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，因为它为用户提供了自我顾客和无许可的访问权限。交易直接在区块链上执行，而不是信任中央交易所。这可能意味着访问更多资产，更快的列表以及潜在的较低费用。另外，您不必信任带有资金的中介。当然，存在风险，例如智能合约错误和动荡的市场。但是，嘿，没有风险，没有回报，对吗？

Coinbase's Bitcoin Bullishness

Coinbase的比特币看涨

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首席执行官Brian Armstrong也是比特币的忠实信徒，由于其可分裂性，可移植性和效率，它提倡其优于黄金。他甚至提到Coinbase一直在积极增加其比特币持有量。这不仅仅是说话；这是一种策略，建议将比特币更深入地整合到Coinbase的长期财务计划中。

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.

这种DEX集成是Coinbase计划成为加密货币的“一切”应用程序的一部分。他们希望成为您可以购买，出售，交易和存储所有数字资产的一站式商店。通过将Web3工具直接嵌入其核心平台中，他们将自己定位为捕获想要更多控制加密体验的用户。

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.

此举还遵循了诸如Hyproliquid之类的平台的相对成功，这是一种分散的衍生品交易所，在过去一个月中已经达到了110亿美元的数量。它为用户提供了交易的非监护选择，从本质上消除了FTX在2022年内爆后引起人们关注的对方风险。

The DEX Landscape: A Trillion-Dollar Market

DEX景观：万亿美元的市场

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.

说到DEX，您知道DEX交易量在2025年7月超过1万亿美元吗？这是辩护部门的巨大里程碑。这次激增是由超级流动性的创纪录的永久性期货量以及BNB链和基于索拉纳的DEX上日益增长的现货交易活动所驱动的。人们显然正在寻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.

自那以后，尽管DEX量已经进行了一些整合，但总体趋势很明显：分散交易将在这里留下来。这在很大程度上是由于区块链生态系统中不断增长的基础设施和创新，尤其是随着越来越多的贸易商寻求集中式平台的替代方案。

My Take: Is Coinbase on the Right Track?

我的看法：Coinbase在正确的轨道上吗？

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肯定会做出一些大胆的动作。集成DEX交易是一种吸引想要更多控制其资产的用户的明智方式。布莱恩·阿姆斯特朗（Brian Armstrong）的比特币倡导只会增强其在加密货币世界中的地位。朝着成为“一切应用程序”的推动是雄心勃勃的，但是如果他们能够实现它，Coinbase可能会成为加密货币空间中的主要参与者。但是，监管不确定性仍然是一个重大障碍。

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.

不过，这并不是全部阳光和玫瑰。 Defi空间仍然充满风险，并不是每个人都在驾驶分散交流的复杂性。 Coinbase需要确保他们提供一种用户友好的体验，可以满足加密本地人和新移民的需求。另外，他们需要解决仍在整个行业迫在眉睫的监管障碍。

The Bottom Line

底线

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进入DEX交易及其“一切应用”愿景是对加密货币未来的大胆赌注。是否有回报还有待观察。但是一件事很清楚：加密景观正在不断发展，Coinbase决心保持领先地位。所以，搭扣，伙计们！这将是一个有趣的旅程。