As a product with similarly high risks and high returns, meme and Heyue have largely attracted the same group of people.
With everyone playing meme, there are fewer people playing Heyue.
With fewer people playing Heyue, the contributed fees, liquidation funds, and maintenance margins decrease.
Meanwhile, the most profitable aspect for CEX is the contracts.
At the same time, the on-chain activity caused by meme is also threatening the existence of CEX.
When you analyze it this way, the logic becomes very clear.
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