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 in 2021 to the darkest moments in 2022, each rise and fall reshaped the boundaries of industry development.
In 2024, with the influx of Bitcoin ETFs, traditional institutional capital, and new Bitcoin highs, market liquidity has reached new heights, marking the arrival of the Meme super cycle. This rapidly growing industry is gradually maturing. In this wave of industry development, the globally leading crypto trading platform LBank has also achieved exponential 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 outlets, held a themed X Space titled 'The Leverage Point of the Crypto World: Unlocking LBank's 2024 Highlights.' Community Angel Officer and Risk Control Advisor Eric He shared the platform's development journey and future plans with community members during the Space.
Behind the Achievements: User-Driven Value Innovation
The year 2024 is a key year for LBank. LBank accurately grasps the pulse of the market and finds the best starting point: making innovation and user value the core of development. Eric He candidly stated: 'Users are our core; investing in the Meme track is a user preference and a historical choice. Such choices have allowed users to stand with us and become milestones for LBank.'
In addition, this user-centric strategy has led to significant growth for the platform:
The user base skyrocketed from 10 million to 15 million within 120 days;
According to a report released by 0x scope in October, 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 in the spot market has exceeded 2.7 billion USD, while the average daily trading volume in the derivatives market has surpassed 67 billion USD;
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, allowing more users to experience the effect of sudden wealth and achieve brutal growth in the bubble,' Eric said. This year, LBank not only made leaps 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 interesting experiences and innovative services for users, 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,' marking the beginning of a new journey. Behind this is the platform's precise grasp of the market pulse. Eric He’s unique insights on Memecoin—'Value investment is a regression in the industry; high valuations are, to some extent, arrogance and prejudice in the industry'—reveal the innovative essence of the crypto market. In his view, Memecoin breaks traditional investment barriers, providing equal opportunities for all participants. Although this is a high-risk track, as he states: 'This could be the birthplace of the next BTC or DOGE.' It is this possibility that constitutes the eternal charm of the crypto market.
In the layout of the Meme track, LBank has demonstrated exceptional foresight. As early as July 2023, the platform established a $10 million MEME special fund, laying the foundation for future development. Through precise listing strategies, LBank successfully launched nearly 300 high-potential Meme assets, achieving remarkable results: over 40 projects increased by more than 500%, with the first launch project MOODENG reaching a 61-fold increase, and GOAT and PNUT achieving astonishing increases of 299-fold and 81-fold, 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, and has formed strategic partnerships with industry leaders such as GMGN.AI to jointly promote the sustainable development of the Meme ecosystem. This multi-dimensional 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 diving into the industry, Eric He's focus stems from his love for the crypto industry and his firm belief in the ability of blockchain technology to change the world. As a professional with a technical background, he believes that crypto technology centered around Bitcoin, from the perspective of financial history, will become a new driving force for human technological advancement, much like bonds and stocks.
In 2024, Eric He transitioned from CEO to Community Angel Officer and Risk Control Advisor. This transformation stems from his profound insight into the essence of the crypto industry: decentralization is not only a technical feature but also a key pathway to achieving fairness, transparency, and permissionless participation. 'As CEO, I was the center of decision-making, the brain of the company. But the birth of cryptocurrency is meant to break the shackles of traditional finance and dance on the ceiling.' He firmly believes that in a decentralized industry, platform development should not rely on individuals but should be based on collective wisdom and innovative power.
For him, this transformation is not only an adjustment of identity but also an evolution of thought. He re-examined the development direction of the exchange and actively broke LBank's 'ceiling.' In the new role, he focused on experiencing various products, researching industry trends, managing risk margins, and ensuring the exchange operates securely amidst innovation. This shift in management philosophy has injected new development momentum into LBank, presenting a stronger growth trend and fully preparing for future challenges and opportunities.
The Foundation of Operations is Safety First
Having experienced industry turbulence such as Mt. Gox, FTX, and LUNA, Eric He has always prioritized security. User asset safety is regarded by LBank as the lifeline of platform development, and the most resolute investment strategies have been adopted for security protection.
Monthly investments exceeding one million dollars in security cover 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 involving external white-hat hackers for testing, constantly strengthening various aspects such as server protection. By introducing and integrating advanced security strategies available in the market, LBank has gradually built 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 safe.' After nine years of deep cultivation, LBank has validated its firm commitment to user asset safety through actions and time.
Insights 2025: Seizing New Opportunities, Deepening Global Layout
Eric He holds a cautiously optimistic view of the crypto market in 2025. He pointed out that this bull market is fundamentally different from previous ones: funds are mainly injected through ETFs and the stock market, and most of these funds circulate among the top cryptocurrencies, not fully penetrating the secondary cryptocurrency market. This pattern presents both challenges and opportunities.
Regarding the future market, he believes attention needs to be paid to several aspects. The first is the rationality of project valuations; he pointed out that the current crypto industry is still in its early stages, yet many projects are already valued far beyond mature tracks like AI and Web2, and this valuation bubble is worth watching. Secondly, innovation capability is crucial; only continuous innovation can define new development directions. Additionally, he emphasizes the importance of compliance, believing it will be a key catalyst for industry development. Finally, the wealth creation effect; if the wealth effect is limited to the top cryptocurrencies covered by ETFs, it may restrict the sustainability of this bull market. Therefore, he looks forward to seeing more innovative projects that are fair, undervalued, and have good narratives emerge.
Based on this judgment, LBank will continue to optimize trading depth to uncover quality assets with potential for users. At the same time, the platform is accelerating its global compliance layout, having obtained licenses such as US MSB, Canadian MSB, Italian VASP, Australian DCEP, and Alabama MTL, laying a solid foundation for future development.
Eric believes the key to the market lies in the wealth creation effect, and only when this effect is significant will it attract external funds to continuously flow in. Therefore, LBank will continue to adhere to innovation-driven strategies, helping more users seize market opportunities while maintaining the industry's essence of fairness, transparency, and permissionless.
Conclusion
The crypto world is ever-changing; only by adhering to the core values of openness, transparency, and fairness can a platform survive and grow in times of change. LBank will take a forward-looking vision, deeply engage in technological innovation, and build a complete ecosystem to create a comprehensive and highly adaptable digital asset trading experience for users at different levels. On this path, we will always adhere to balancing innovation and safety, promoting healthy industry development, and creating lasting value for users.
