2026-01-07 15:25:44

The recent ecosystem layout of a leading exchange has sparked a lot of reflection. Currently, this platform's Chinese spot trading pairs are truly unique in the market, and this has become a key support for maintaining a market capitalization of 180 million. But the question is—how long can this advantage last?

From a logical perspective, will they continue to launch other Chinese trading products, or do they plan to concentrate all resources on this single spot product? This decision has a significant impact on the development of the entire ecosystem.

Interestingly, according to conventional thinking, the emergence of Chinese spot products usually occurs after accumulating several Chinese contract trading pairs. But this time, it’s the other way around—the spot has become the first, which is indeed somewhat surprising strategically. Is this driven by market demand forcing the decision, or are there other long-term plans brewing? All of these are worth observing.

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GateUser-a5fa8bd0

· 01-07 21:17

Honestly, just this one spot product supports a market cap of 180 million? It feels a bit虚啊. Everyone is betting on whether they can replicate others' path, and in the end, they come back with a spot first, which is indeed a bit绝啊哈. But it's just a trading pair, and if it really wants to become legendary, it still depends on liquidity.

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ShortingEnthusiast

· 01-07 15:55

Going live with spot trading first is really counterintuitive; it feels like we're being forced by the market, otherwise why would we do this?

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OnChainDetective

· 01-07 15:55

Wait, is the 180 million market cap entirely relying on a spot product? This logical flaw is so big it could mine coins. You need to look at on-chain fund flows to determine the true support points. Without other Chinese products as a foundation, going straight to spot trading—what does that indicate? Either being cornered or large investors pushing the price down from behind. Monitoring wallet clusters' movements is necessary. Spot trading being the first to rise? This strategic order is abnormal. There must be backend data we can't see, feeling a bit like black-box operations. The monopoly advantage of Chinese trading pairs can't hold up at all. It will be eroded sooner or later. The key depends on how whales move. This kind of single-point dependency is too dangerous. When funds disperse, the entire ecosystem collapses. Constantly monitoring large transfers is essential.

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DuskSurfer

· 01-07 15:55

Reverse operations are quite interesting, but to be honest, a market cap of 180 million here is really a bit虚。 A Chinese spot market can't support this for long, sooner or later it will need to expand categories, or it will be a dead end.

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PaperHandsCriminal

· 01-07 15:48

Haha, the only one? Then just wait to be choked off. I've seen this routine many times. 1.8 billion to support such a product, betting on a bicycle turning into a motorcycle? That's a bit crazy. First go live with the spot, then with the contract. Can reverse operations work? Asking just because you're forced to.

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WhaleStalker