The decline in Ethereum's DEX trading volume share doesn't necessarily indicate a shift to CEXs. While DEX volumes dropped, such as the 9% decrease to $179 billion in August 2024, CEX volumes rose 8%. However, Ethereum still dominates DEX activity with $52 billion (29% of total). This suggests market dynamics, like volatility or trader caution, may be at play rather than a clear migration. CEXs offer liquidity and ease, but DEXs retain appeal for privacy and self-custody. Without broader data showing sustained CEX growth outpacing DEXs, it’s premature to confirm a funds shift. Both ecosystems coexist, serving different needs.