Binance are a role model in next generation exchange. They redefined what a exchange is and they are raising their limits everyday.
There were days of exchanges like mt.gox, mintpal, poloneix, yobit and bittrex. Now they look like rudiments.
Before, there was much less competition, there were hardly a couple of exchanges, now the competition is much higher, not only because of the large number of exchanges that exist now, but also because other exchange models are emerging, such as decentralized and hybrid ones. To this we must add that now they are being more controlled by the regulators and users themselves are more demanding.
Speaking of decentralized exchanges - I heard Binance is going to come up with their own decentralized exchange?