I'm not familiar to the world of trading (even the traditional ones). Can someone explain how a crypto exchange (like Binance or Kraken) benefits a cryptocurrency?
For exchange that directly accepts fiat, they help cryptocurrency as the bridge for fiat-crypto transaction. Without them, you won't have an easy time when you want to buy or sell crypto with fiat. These exchanges make fiat crypto exchange easier. Because it's easy, it'll indirectly affect how much money is invested in the whole crypto industry.