I agree with the free market and diversion views mentioned by Yijie.

For example, there was only one barbecue restaurant in a county at the beginning. If people in the whole county wanted to eat barbecue, they had no choice but to go to a farther place. Such a barbecue restaurant formed a kind of local monopoly.

He could sell the dishes very expensively, such as lamb skewers for 6 yuan/skewer, oysters for 20 yuan/each, scallops for 20 yuan/each, and even a can of Coke for 6 yuan.

However, as the economic environment deteriorated, more and more roadside stalls were set up. In the absence of population growth, the business of the only barbecue restaurant in the county was bound to deteriorate. How should this store maintain its original profit? Reduce prices or improve service quality or do all of them? But in any case, his business will not be better than before!

So in the case of the currency circle, although Binance cannot be said to have a monopoly position, it has a huge advantage in the head, especially the attraction of listing coins.

In the current small county of the currency circle, there are more and more stalls (exchanges/project parties/VC/on-chain), but the population (users/funds) has not increased. I am not sure whether Binance's business is better than before, but the crazy internal rolls of some stalls have shown a trend of not being able to continue.

Just like the previously discussed Binance launched tokens with high valuations and low circulation, it is like a barbecue restaurant still selling expensive dishes, but the environment is different from the past, users are not buying it, and one by one it falls.

Now Binance has reduced the price (low valuation/high circulation) to sell dishes, and launched BNB Holder and Megadrop. As for whether the service quality has improved, I have no obvious perception at present.

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