Current situation:

1. Market makers are looking for new ways to transition on-chain. In the past, they could make tens of millions of dollars on CEX like Binance, but now it may only be a few million.

2. The volume of contracts is large, while the spot volume is very poor. A drop leads to a head-cutting scenario. This actually indicates that there is very little money in the market, requiring manipulation of contracts to create false liquidity.

3. Project parties are continuously being drained by Binance, but they cannot refuse alpha, wallets, holder drops, etc. There are obstacles to overcome, one after another.

4. Exchanges are starting to consider going public.

5. There are more KOLs than retail investors, and retail investors are starting to transition, brother!

So how do you choose to navigate this market?