**Why did altcoins in the cryptocurrency industry in the past generally rise and even perform miracles with great force** In fact, the cryptocurrency industry has a financial system that simulates the real world in operation! Binance and Tether are like the "central banks" of the cryptocurrency industry, with the ability to "print money" and even "print air" to pull the market. After each round of Bitcoin's rise in the past, a large amount of Bitcoin has been concentrated on exchanges. CZ (founder of Binance) can use the user's floating profits in Bitcoin as collateral to issue BUSD; Teda can use Bitcoin as collateral to issue USDT. Even more exaggeratedly, they can even issue "air coins" out of thin air on the basis of physical Bitcoin collateral. For example, in 2021, Binance issued over 1.5 billion unsecured BUSDs, directly driving the market's crazy rise and causing the rise of altcoins. But now, you need to think about two questions: Who is Bitcoin concentrated in? How many BUSDs are still in circulation in the market?