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There is as much volume on non-custodial exchanges in a month as Binance’s volume in the last two hours
The volume coming from non-custodial exchanges only comes to about 0.3% of the total (legitimate) traded volume traded on centralized exchanges
Non-custodial exchanges haven’t caught on because they are generally slow and impractical
Binance is a frontrunner to popularize non-custodial exchanges but first, it needs to become more independent of Binance itself and it needs to figure out a way to enable trading of non-Binance Chain cryptocurrencies
Footnotes
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