As a crypto analyst with 5 years in DeFi and NFT markets, I’ve seen this shift coming. CEXs aren’t just adopting DeFi—they’re rebuilding it. Binance’s Alpha lowers barriers, Bybit’s ByReal mimics CEX liquidity on-chain, and Coinbase’s dual-track model serves retail and institutions. This isn’t a trend—it’s a strategic redefinition of exchange itself. The era of ‘CEX vs DEX’ is over. Welcome to CeDeFi.