<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 820 392" width="820" height="392" role="img" aria-labelledby="t d" font-family="'Manrope', ui-sans-serif, system-ui, -apple-system, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif">
  <title id="t">Centralised versus decentralised crypto exchanges</title>
  <desc id="d">A centralised exchange holds your funds and keys and works like a broker. A decentralised exchange lets you trade directly from your own wallet, keeping your keys. The flow of coins on and off exchanges is a clear sentiment signal.</desc>
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  <text x="40" y="52" font-size="26" font-weight="800" fill="#0F172A">Two Kinds of Crypto Exchange</text>
  <text x="40" y="80" font-size="15" fill="#5A6578">Where you buy, sell and trade, and where intent to buy or sell becomes visible</text>

  <rect x="56" y="124" width="320" height="184" rx="12" fill="#F6F8FB" stroke="#0F172A" stroke-opacity="0.08"/>
  <text x="216" y="154" font-size="14.5" font-weight="700" fill="#5A6578" text-anchor="middle">Centralised (CEX)</text>
  <text x="216" y="196" font-size="13" fill="#334155" text-anchor="middle">Works like a broker that</text>
  <text x="216" y="216" font-size="13" fill="#334155" text-anchor="middle">holds your funds for you</text>
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  <text x="216" y="266" font-size="12.5" font-weight="600" fill="#5A6578" text-anchor="middle">the exchange holds your keys</text>

  <rect x="444" y="124" width="320" height="184" rx="12" fill="#F0F7FE" stroke="#0284C7" stroke-width="1.5"/>
  <text x="604" y="154" font-size="14.5" font-weight="700" fill="#0284C7" text-anchor="middle">Decentralised (DEX)</text>
  <text x="604" y="196" font-size="13" fill="#334155" text-anchor="middle">Trade directly from your</text>
  <text x="604" y="216" font-size="13" fill="#334155" text-anchor="middle">own wallet, via smart contract</text>
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  <text x="604" y="266" font-size="12.5" font-weight="600" fill="#0284C7" text-anchor="middle">you keep your keys</text>

  <text x="410" y="350" font-size="13" fill="#5A6578" text-anchor="middle">Coins moving on and off exchanges is one of the clearest sentiment signals in crypto.</text>
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