$BTC $ETH $SOL Delist perpetual contracts, the cryptocurrency market should move towards compliance

The cryptocurrency market has reached a point where it must revolutionize; if reforms are not made soon, the crypto world will perish.

Perpetual contracts have no supporting basis for existence. Whoever has money can borrow as much as they want to speculate on cryptocurrencies, without any backing of spot assets, without time restrictions, and without delivery, they have degenerated into a tool for manipulation, becoming the optimal platform for institutions to harvest retail investors in a bear market.

At the same time, exchanges are happy to see this. If everyone engages in perpetual contracts, once a certain level of accumulation is reached, they will favor whichever side offers more profit, and this situation is becoming increasingly severe.

Binance is destined to fall; their inhumane harvesting will eventually be taken down by governments around the world. Binance could be liquidated anywhere by various countries.

As long as perpetual contracts are not eliminated from the Chinese cryptocurrency market, there will be no chance for recovery. Bitcoin has not dropped yet, but altcoins have already seen a 10-fold decrease. If Bitcoin starts to drop significantly by 40%, altcoins could drop by 90%. By this logic, an altcoin that peaked at 10u is currently at 1u, and if it drops by another 90%, it will return to 0.1u.

If the cryptocurrency market does not undergo reform and move towards compliance, the speed at which retail investors are harvested will only accelerate.

Delist perpetual contracts and convert everything to futures contracts with time limits, and these must be deliverable futures contracts. Once the time is up, the platform must provide the corresponding spot currency.

Currently, the situation in the cryptocurrency market does not look good; perpetual contracts are harming various promising projects, allowing those completely controlled projects to thrive while harvesting retail investors, such as Om, which is fully controlled and harvesting at high levels, or Swarms and Ban, which are harvesting batches of retail investors.

End of statement.