Author: Observer Old Wang; Source: C Labs Crypto Observer
Binance's growth path is like a carefully orchestrated game, and it can always keep up with the rhythm of industry turmoil and achieve a leap forward.
I. 94 Bans, Decisively Going Overseas
On September 4, 2017, the People's Bank of China and seven other departments jointly issued the "Announcement on Preventing the Risk of Token Issuance Financing", requiring the ban on virtual currency trading.
At that time, the two giants in the exchange industry were OKX and Huobi, but their founders Star Xu and Li Lin chose to stay in China.
Later, Star Xu said he would donate OKX to the state.
Li Lin sold all his Huobi shares and posted on WeChat that he was no longer the actual controller and shareholder of Huobi Global, and no longer had any authority.
During this period, CZ resolutely went overseas, and quickly sat firmly in the first place of the exchange, which has continued to this day.
II. Not Making Mistakes, Waiting for Opponents to Make Mistakes
Before the collapse, FTX was the most formidable competitor challenging Binance's leading position, and was once supported by major VCs and even US political figures.
Later, FTX collapsed.
In recent years, Bybit has also been very strong, with its trading volume surpassing other competitors and becoming the second largest in the market for a while.
Then Bybit was hacked, and the panic spread, and it attracted a large amount of funds with its security and liquidity.
Currently, in the centralized exchange track, Binance is still firmly the first, and no opponent is able to challenge its position.
III. Empowering the Chain, Overtaking Others?
At the beginning of this year, after the exposure of the meme harvesting industry chain on the SOL chain, Solana cooled down.
After that, Binance precisely empowered the BSC, further strengthening its public chain ecosystem.
And what's more, it's as if divinely assisted, the funds stolen from Bybit were laundered through the OKX wallet, causing it to be required by regulators to suspend trading, creating a short-term gap in the market.
Binance Wallet has once again become the best alternative solution, and it has absorbed users by waiving transaction fees.
So far, KOL He Yi has publicly endorsed the BNB Card.
If Binance can seize the opportunity to change the old style of meme pulling on the Binance chain, it can continue to maintain its hegemonic position in the chain era.
If Binance also becomes the hegemon on the chain, the impact of this event will be no less than Tencent's launch of WeChat in the mobile Internet era after QQ in the PC era.
