Currently Binance is by far the largest exchange around. If you want your project to be extremely succesfull you'll need to be on Binance. In my opinion this is a bad thing, for a few reasons:
- Market domination leads to unethical behaviour. Binance can make or brake coins. If we want to move forward, we don't want that kind of dominance. We want the market to make decisions, not Binance
- If you'll pay, you'll get listed. That's not good. We want good projects to be listed, not the ones that pay the most. At least Binance should be transparant about the projects they listed because of quality and the ones they listed because they paid for it.
- We once started this crypto-thing because we where sick and tired of banks and governments tell us what to and what not to do. Now it almost seems it's not the banks, but Binance determing what is happening in the market nowadays. And that's against the philosophy of crypto in general.
- Binance is starting to become a little bit lazy. We need them, because the platform has so much volume. But to be honest, I don't think it's a really great platform. For example, I miss a lot of trading options. They are not developing the platform at high speed. And that's a bad thing, because we are all stuck at Binance. And in fact now they are slowing down the development of crypto trading.
I think it's time that one or two new competitors enter the market and come up with something better. But it's still the question if that's good enough to beat Binance. Because there's so much volume there, I don't think it will be easy to switch to another platform.
How are you guys thinking about this?