Sixteen years ago, a 9-page white paper sparked a financial revolution. From the rise of centralized exchanges to DeFi summer, from the bull market frenzy of 2021 to the darkest moment of 2022, each rise and fall has reshaped the development boundaries of the industry.
In 2024, with the influx of Bitcoin ETF and traditional institutional capital, and Bitcoin reaching new highs, market liquidity has reached new heights, and the Meme super cycle has arrived. This wild-growing industry is gradually maturing. Amidst this wave of industry development, the globally leading cryptocurrency trading platform LBank has also achieved leapfrog growth, with global registered users surpassing 15 million, and innovative trading solutions helping users achieve an average return of over 130% upon the listing of new assets.
Recently, LBank, in collaboration with several leading Chinese media, held a themed X Space titled "Leveraging Points in the Crypto World: Unlocking LBank's Highlights in 2024," where Community Angel Officer and Risk Control Advisor Eric He shared the platform's development history and future plans with community members.
Behind the achievements: user-driven value innovation
2024 is a crucial year for LBank. LBank has accurately grasped the market pulse and found the best focal point: making innovation and user value the core of development. Among them, Eric He candidly stated, "Users are our core; investing in the Meme track is both a user preference and a historical choice. Such choices bring users alongside us, becoming a milestone for LBank."
In addition, this user-centered strategy has allowed the platform to achieve significant growth:
User scale jumped from 10 million to 15 million within 120 days;
A report released by 0xscope in October shows that as of October 2024, LBank's spot trading market share reached 3.04%, ranking in the global top 12.
The average daily trading volume in the spot market exceeded $2.7 billion, while the average daily trading volume in the derivatives market surpassed $67 billion;
In the third quarter, LBank brought users an average return of 130% through precise asset allocation;
Behind these achievements is LBank's profound understanding of the market and firm choices. "Returning to our original intention, let more users experience the wealth effect and achieve wild growth in the bubble." Eric said. This year, LBank not only achieved a leap in business scale but, more importantly, established its own development path: LBank does not seek to become the largest trading platform in the market but focuses more on providing users with interesting experiences and innovative services, allowing each user to gain real value on the platform.
Memecoin Phenomenon: Breaking Traditional Investment Philosophy
In 2024, LBank launched a new slogan "Discover the Era of Meme Legends," embarking on a new journey. Behind this is the platform's accurate grasp of the market pulse. Eric He’s unique insights on Memecoins—"Value investing is a regression of the industry; high valuations are, in some sense, arrogance and prejudice of the industry"—reveal the innovative essence of the cryptocurrency market. In his view, Memecoins break through traditional investment barriers, providing equal opportunities for all participants. Although this is a high-risk track, as he stated: "This may nurture the next BTC or DOGE." It is this potential that constitutes the eternal charm of the cryptocurrency market.
In terms of layout in the Meme track, LBank has demonstrated exceptional foresight. As early as July 2023, the platform established a $10 million MEME special fund to lay the groundwork for future development. Through precise listing strategies, LBank successfully listed nearly 300 high-potential Meme assets, achieving remarkable results: over 40 projects saw increases of more than 500%, with the first project MOODENG reaching a 61-fold increase, while GOAT and PNUT set astonishing increases of 299-fold and 81-fold respectively.
LBank's Meme layout focuses not only on investment returns but also on ecological construction and social responsibility. The platform actively collaborates with projects like SLERF for charity and has formed strategic partnerships with leading industry projects such as GMGN.AI to jointly promote the sustainable development of the Meme ecosystem. This multidimensional layout strategy has established LBank with a unique competitive advantage in the Meme track.
Breaking the Ceiling: Eric He's Management Philosophy
Talking about deep cultivation in the industry, Eric He's focus stems from his love for the cryptocurrency industry and his firm belief in the world-changing potential of blockchain technology. As a practitioner with a technical background, he believes that cryptocurrency technology centered around Bitcoin, from the perspective of financial history, will become a new driving force for human technological development, much like bonds and stocks.
In 2024, Eric He transitioned from CEO to Community Angel Officer and Risk Control Advisor. This transformation stemmed from his profound insights into the nature of the cryptocurrency industry: decentralization is not only a technical characteristic but also a key pathway to achieving fairness, transparency, and permissionlessness. "As CEO, I was the center of decision-making, the brain of the company. However, the birth of cryptocurrency was meant to disrupt the shackles of traditional finance, dancing on the ceiling." He firmly believes that in a decentralized industry, the development of platforms should not rely on individuals but should be based on collective wisdom and innovative power.
For him, this transformation is not just an adjustment of identity but also an evolution of thought. He re-evaluated the development direction of exchanges, proactively breaking the "ceiling" of LBank. In his new role, he focuses on experiencing various products, researching industry trends, and managing risk thresholds, ensuring that the exchange operates safely in innovation. This shift in management philosophy has injected new development momentum into LBank, presenting the platform with a stronger growth impetus and fully preparing it for future challenges and opportunities.
The cornerstone of operations is safety above all.
Having experienced industry upheavals such as Mt. Gox, FTX, and LUNA, Eric He has always prioritized security. User asset safety is regarded by LBank as the lifeline for platform development, adopting the most resolute investment strategy in security protection.
With over a million dollars invested in security each month, covering comprehensive layouts from team building to technical protection. LBank has assembled a strong security team, continuously conducting internal attack and defense drills while inviting external white hat hackers to participate in testing, constantly strengthening every aspect of server protection. By introducing and integrating advanced security strategies available in the market, LBank is gradually transforming itself into a fortress-like exchange.
This continuous investment strategy has shown significant results. Data from 2024 indicates that the platform has successfully prevented $1.2 billion in potential user losses and intercepted about $540 million in suspicious withdrawals. As Eric said, "Only time can prove whether a platform is safe." After nine years of deep cultivation, LBank has validated its firm commitment to user asset safety through actions and time.
Insights for 2025: Seize new opportunities and deepen global layout
Eric He holds a cautiously optimistic view of the cryptocurrency market in 2025. He pointed out that this bull market is fundamentally different from previous ones: capital is mainly injected through ETFs and the stock market, with much of the capital circulating among leading cryptocurrencies, not fully penetrating the secondary cryptocurrency market. This pattern is both a challenge and an opportunity.
Regarding the future market, he believes that several aspects need attention. First is the rationality of project valuations; he pointed out that the current cryptocurrency industry is still in its early stages, yet many projects have valuations far exceeding mature sectors like AI and Web2, indicating a valuation bubble that deserves caution. Second is innovation capability, as only continuous innovation can define new development directions. Additionally, he particularly emphasized the importance of compliance, believing it will be a key catalyst for industry development. Lastly, the wealth effect; if the wealth effect is limited to leading cryptocurrencies covered by ETFs, it may constrain the sustainability of this bull market. Therefore, he looks forward to seeing more fair, undervalued, and well-narrated innovative projects emerge.
Based on this judgment, LBank will continue to optimize trading depth to uncover high-quality assets with potential for users. At the same time, the platform is also accelerating its global compliance layout, having obtained licenses in the United States MSB, Canada MSB, Italy VASP, Australia DCEP, and Alabama MTL, laying a solid foundation for future development.
Eric believes the key to the market lies in the wealth effect; only when the wealth effect is significant will it attract external capital to continue pouring in. Therefore, LBank will continue to adhere to innovation-driven growth, helping more users seize market opportunities while maintaining the fair, transparent, and permissionless essence of the industry.
Conclusion
The cryptocurrency world is rapidly changing; only by adhering to the core values of openness, transparency, and fairness can platforms survive and grow amidst changes. LBank will focus on forward-looking vision, deepen technological innovation, build a comprehensive ecosystem, and create a fully aligned digital asset trading experience for users at different levels. On this path, we will always adhere to a balanced emphasis on innovation and security, promote healthy industry development, and create lasting value for users.
