16 years ago, a 9-page white paper sparked a financial revolution. From the rise of centralized exchanges to DeFi Summer, from the frenzy of the bull market in 2021 to the darkest moment in 2022, each rise and fall has been reshaping the development boundaries of the industry.
In 2024, with the Bitcoin ETF, traditional institutional capital influx, and new Bitcoin highs, market liquidity reached new heights, ushering in a Meme super cycle. This rapidly growing industry is gradually maturing. In this wave of industry development, the globally leading cryptocurrency trading platform LBank also achieved leapfrog growth, with global registered users surpassing 15 million. Innovative trading solutions helped users achieve an average return of over 130% upon new asset listings.
Recently, LBank, in collaboration with several leading Chinese media outlets, held a themed X Space titled 'The Lever Point of the Crypto World: Unlocking LBank's 2024 Highlights', 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 critical year for LBank. LBank accurately grasps the market pulse and has found the best focus: making innovation and user value the core of development. Among them, Eric He candidly states: 'Users are our core; entering the Meme track aligns with user preferences and historical choices. This choice brings users together with us, marking a milestone for LBank.'
In addition, this user-centered strategy has allowed the platform to achieve significant growth:
User scale surged 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 volume market share has reached 3.04%, ranking in the top 12 globally.
The average daily trading volume of the spot market exceeded $2.7 billion, and the average daily trading volume of the derivatives market exceeded $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. 'Return to the original intention, allowing more users to experience the wealth effect and achieve barbaric growth amid the bubbles,' Eric said. This year, LBank not only achieved leapfrog growth in business scale but more importantly, established its 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 every user to gain true value on the platform.
The Memecoin phenomenon: Breaking traditional investment philosophy
In 2024, LBank launched a new slogan 'Discover the Era of Meme Legends', marking the beginning of a new journey. Behind this is the platform's precise grasp of market pulse. Eric He’s unique insights into Memecoins—'Value investment is a regression of the industry; high valuation is, to some extent, the industry’s arrogance and prejudice'—reveal the innovative essence of the crypto market. In his view, Memecoins have broken traditional investment barriers, providing equal opportunities for all participants. Although this is a high-risk track, as he said: 'This could nurture the next BTC or DOGE.' It is this possibility that constitutes the eternal charm of the crypto market.
In terms of layout in the Meme track, LBank has shown exceptional foresight. As early as July 2023, the platform established a $10 million MEME special fund, laying the groundwork for subsequent development. Through precise listing strategies, LBank successfully launched nearly 300 high-potential Meme assets, yielding remarkable results: over 40 projects rose more than 500%, with the debut project MOODENG increasing by 61 times, and GOAT and PNUT achieving astonishing increases of 299 times and 81 times, respectively.
LBank's Meme layout not only focuses on investment returns but also emphasizes ecological construction and social responsibility. The platform actively engages in charitable collaborations with projects like SLERF while forming strategic partnerships with industry leaders like GMGN.AI to jointly promote the sustainable development of the Meme ecosystem. This multidimensional layout strategy has established a unique competitive advantage for LBank in the Meme track.
Breaking the ceiling: Eric He’s management philosophy
When talking about his deep engagement in the industry, Eric He’s focus stems from his love for the cryptocurrency industry and his firm belief in blockchain technology's potential to change the world. As a practitioner with a technical background, he believes that Bitcoin-centered cryptocurrency technology, from the perspective of financial history, will become a new driving force for the advancement of human technology, akin to bonds and stocks.
In 2024, Eric He transitioned from CEO to Community Angel Officer and Risk Control Advisor. This change stemmed from his profound insight into the essence of the cryptocurrency industry: decentralization is not just a technological characteristic but a key way to achieve fairness, transparency, and permissionless. 'As CEO, I was once the center of decision-making, the brain of the company. But the birth of cryptocurrency was meant to break the shackles of traditional finance and dance on the ceiling.' He firmly believes that in a decentralized industry, the development of the platform should not rely on individuals but should be based on the wisdom and innovative power of the community.
For him, this transformation is not just an adjustment of identity, but an evolution of thinking. He has re-examined the development direction of exchanges, proactively breaking the 'ceiling' of LBank. In his new role, he focuses on experiencing various products, studying industry trends, and controlling risk limits, ensuring the exchange operates safely amid innovation. This shift in management philosophy has injected new development momentum into LBank, showcasing stronger growth momentum and fully preparing for future challenges and opportunities.
The cornerstone of operations is safety first
Having experienced industry turmoil such as Mt. Gox, FTX, and LUNA, Eric He has always prioritized security. User asset safety is regarded by LBank as the lifeline for the platform's development, and the most resolute investment strategy has been adopted in security protection.
Over 1 million USD in security investments every month, covering a comprehensive layout from team building to technical protection. LBank has formed a strong security team that continuously conducts internal offensive and defensive drills while also inviting external white hat hackers to participate in testing, constantly strengthening various aspects such as server protection. By introducing and integrating advanced security strategies available in the market, LBank has gradually transformed itself into a fortress-like exchange.
This continuous investment strategy has proven effective. Data from 2024 shows that the platform has successfully prevented potential user losses of $1.2 billion and intercepted approximately $540 million in suspicious withdrawals. As Eric said: 'Only time can prove whether a platform is secure.' After nine years of deep cultivation, LBank has validated its firm commitment to user asset security through action and time.
Insights for 2025: Seizing new opportunities and deepening global layout
Eric He holds a cautiously optimistic view of the 2025 crypto market. He points out that this bull market is fundamentally different from previous ones: funds are primarily injected through ETFs and the stock market, with most of these funds circulating among leading cryptocurrencies and not fully penetrating the cryptocurrency secondary market. This pattern presents both challenges and opportunities.
Regarding the future market, he believes several aspects need attention. First is the reasonableness of project valuations; he points out that the current cryptocurrency industry is still in its early stages, yet many projects' valuations have far exceeded those of mature sectors like AI and Web2, which is a valuation bubble worth being cautious of. Secondly, innovation capability is crucial, as only continuous innovation can define new development directions. Furthermore, he emphasizes the importance of compliance, believing it will become a key catalyst for industry development. Finally, the wealth effect is significant; if the wealth effect is limited to the leading cryptocurrencies covered by ETFs, it may restrict 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 and uncover high-potential quality assets for users. At the same time, the platform is accelerating its global compliance layout and has currently obtained licenses such as MSB in the US, MSB in Canada, VASP in Italy, DCEP in Australia, and MTL in Alabama, 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 continuous inflows of outside capital. Therefore, LBank will continue to adhere to innovation-driven strategies, helping more users seize market opportunities while maintaining the fair, transparent, and permissionless essence of the industry.
Conclusion
The cryptocurrency world is ever-changing; only by adhering to the core values of openness, transparency, and fairness can the platform survive and grow amid changing circumstances. LBank will focus on technological innovation with a forward-looking vision, building a complete ecosystem to create a comprehensive and highly adaptive digital asset trading experience for users of different levels. On this path, we will always uphold the dual emphasis on innovation and security, promoting healthy industry development and creating lasting value for users.
