Despite the crypto market being in a “cold winter” with rampant fraud, the crypto community has developed its own unique culture.

Would you spend $300 million on a pizza a dozen years ago? In 2010, Florida resident Laszlo Hanyecz bought a pizza with 10,000 bitcoins. At today's bitcoin value, this is equivalent to nearly $300 million. But he said he has no regrets. Coincidentally, there is another person who accidentally threw away his hard drive, which is now worth nearly $400 million. For years, he has been asking the local council to search the landfill to help find the lost hard drive.

In the cryptocurrency market, the role of exchanges is crucial, especially in the promotion and circulation of emerging projects. Recently, $NEIRO on Binance has caused strong dissatisfaction in the community, which made me rethink some core issues. The following is an in-depth discussion of these issues:

1. Changes in Meme Token Trading Logic and Exchange Preferences
As the crypto market evolves, meme tokens have gradually transformed from simple entertainment projects to assets with strong community support and investment potential. Exchanges prefer these "cats and dogs" projects mainly because they can quickly attract user attention and trigger a large number of transactions. Driven by market volatility and social media, meme tokens can bring considerable traffic and revenue to exchanges. However, this model also comes with risks, especially the lack of long-term value.