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The centralized exchange are making is saturated, and also the so called new project are just relying on existing code like we both highlighted. When the focus is just fixed on one area to me that can be considered saturation. Basically what happens in the space is, immediately a new trend begin to pick up momentum it because the new go to technology with little or no effort in improving that technology for the betterment of the industry but simply because the easiest way to cashout big by project founders.
Do some research, currently 80% of the project under development phase are DeFi related with no unique feature getting introduced to the current one. Is just getting irritating what the industry is turning into. The evidence are everywhere, the market is saturated.
Perhaps, only a few have thought that shit, many didn't capture the real situation because they are just getting blind with money. So many projects created almost every day but none of them having such potential for along-term, and after a short show, most of them went gone. How hopeless they are but somehow people keep believing that this could save them in terms of financial support.