According to @ThinkingUSD, billions of dollars of Bitcoin (BTC) are being traded permissionlessly on a fully on-chain central limit order book (CLOB), signaling live high-notional BTC activity on decentralized infrastructure, source: @ThinkingUSD on X, Aug 24, 2025. The post does not identify the venue, transaction data, or time window for the stated volume, limiting immediate independent verification, source: @ThinkingUSD on X, Aug 24, 2025. For trading context, the claim highlights that significant BTC order flow may be occurring on-chain rather than only on centralized exchanges, but no corroborating details were provided in the post, source: @ThinkingUSD on X, Aug 24, 2025.

According to @dydxfoundation, the dYdX Foundation team highlighted at Liquidity2025 in Hong Kong that dYdX offers a centralized exchange-like experience through its DeFi platform, focusing on permissionless trading and asset listing to drive broader market adoption. These features are crucial for traders looking for seamless integration between decentralized and centralized trading experiences.