2026-01-21 04:49:54

The competition among crypto trading platforms over the past decade has been quite simple: whoever has higher trading volume and faster coin listings wins. The story has almost always been about capturing traffic and users.

But now, things are different. As the market matures and we approach 2026, the competitive logic of CEXs is quietly changing.

From the annual reports of several major exchanges, relying solely on trading volume and listing speed is no longer enough to maintain competitiveness. Platforms are beginning to compete in deeper dimensions such as risk control systems, user experience, derivatives innovation, and ecosystem integration. The era of traffic dividends is coming to an end, and competition is entering the second half.

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BearMarketMonk

· 1h ago

The traffic dividend is dead, so what now? Risk control, user experience, innovation... sound like catching up rather than evolution.

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0xSleepDeprived

· 6h ago

Alright, but the reality is that most exchanges' risk control is still a mess. By the way, whose derivatives experience is really better? To put it nicely, it's all about compliance and policies.

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MainnetDelayedAgain

· 12h ago

According to the database, leading exchanges have evolved from "competing on trading volume" to "focusing on risk control." How long has this turnaround been delayed? It's been since the last time they claimed "the competitive landscape is about to change"... Never mind, I suggest they be considered for the Guinness World Records.

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Degen4Breakfast

· 12h ago

Has the traffic dividend passed? Ha, that's a nice way to put it, but in reality, it's still about burning money to compete for users, just using a different approach. Platforms with good risk control can indeed survive longer, but those that truly make it are still the well-funded big players. Derivative innovation sounds impressive, but what users really care about are transaction fees and deposit speed... In this reshuffle, small and medium exchanges are hanging by a thread. The second half? I think it's more like a game of big fish eating small fish, just accelerating.

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ProofOfNothing

· 12h ago

Stacking features are useless; the key is who can truly protect users' wallets. It's easy to say but hard to do. Do these platforms really dare to go all out? Good risk control can actually freeze traders; how to resolve this contradiction? It still seems to come down to the amount of coins and speed; everything else is just talk. The second half is just a competition of various methods to cut leeks, just a different packaging.

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SquidTeacher

· 12h ago

Risk control is more valuable than listing coins; this is true evolution. But honestly, most exchanges' risk control systems are just like that... Now things have become more complicated; it's not a matter that can be decided on a single track.

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MerkleMaid

· 12h ago

High trading volume doesn't necessarily mean longevity. Haven't there been many platforms that have run away over the past few years? Risk control is the key to survival.

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BasementAlchemist

· 12h ago

Risk control systems are indeed crucial, but to be honest, most exchanges are still just pretending... Wait, ecosystem integration? Who has truly done it well? This should have been the way to compete from the start; it's much more reliable than just spending money to list tokens. Sounds good, but KYC still remains a bottleneck. The second half? I think it's still the old approach, just a different way of saying it.

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