2025-12-08 05:10:13

Just saw a piece of data: a leading exchange's user base has surpassed 300 million.

That scale is truly staggering. #数字货币市场洞察 has also been performing pretty well recently, with a solid user base.

The industry's concentration is becoming more and more apparent.

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FromMinerToFarmer

· 16h ago

Top exchanges have 300 million users? That level of concentration is insane. It's tough for small exchanges to even survive.

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BrokenDAO

· 16h ago

300 million users sounds like a lot, but how many are actually active? High concentration means good liquidity, but it also means the risk of a single point of failure is maxed out. --- Top exchanges spend big to acquire users, but in the end, user stickiness is a false proposition; once incentives stop, real capabilities are put to the test. --- Large scale ≠ sound mechanisms, don’t confuse the two. Exchanges that can open 300 million accounts often have the most fragile governance models. --- Centralization is becoming more and more obvious—is this the fate of Web3... Checks and balances have never truly existed. --- No matter how many users you have, it’s all meaningless if the immovable liquidity is stuck in one wallet. The balance of the game always lies with the side holding the most capital.

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MetaReckt