The dominant position of leading exchanges is already difficult to shake. Frankly, it is almost impossible to find other platforms that can overtake in a curve. Users don't actually pursue flashy innovative features; frankly, they just need a trading venue with sufficient liquidity and stable trading experience.

The cruelty of the market lies in its cyclicality. When a group of investors exit due to losses, platforms need to continuously attract newcomers to maintain trading activity. Old players may be eliminated, but new forces will always fill the gap. This is the eternal cycle of the trading market—traffic constantly updates, and interests continuously shift.