Recently, it has become increasingly apparent that in the past, startup projects in the cryptocurrency industry were seeking to have their top CEX listed. It is expected that in the near future, the situation will be reversed, where CEX is seeking to have their projects listed. Even if blockchain technology is great, it still needs to follow some basic business logic. For example, when the amount of funds entering the market decreases and there are more and more projects in the altcoin market, it is impossible for it to rise generally. So now the general logic in the cryptocurrency industry is to promote products, that is, fans trust KOLs, trust Binance, buy whatever KOLs say, and buy whatever is on Binance. So you can see from the recent announcement of Binance's coin listing that it no longer introduces the project's purpose or highlights, but only mentions its name. No matter what it is, just buy it, it's all PVP anyway. How to break the deadlock? The project team also needs to consider creating real value, rather than treating themselves as gambling chips for retail investors to PVP, or meat on the chopping board for CEX to arbitrarily slaughter. How to create value? Don't talk about empty promises, the most practical thing is how much money the project itself can earn. The annual dividends in the entire US stock market exceed seven to eight hundred billion US dollars, with less than half of them in A-shares. These are all related to shareholders or token holders in the cryptocurrency industry, and this number is probably not counted by anyone except for platform coins such as BNB, as well as DeFi coins such as MKR AAVE. I believe in the future of crypto, and BTC goes without saying that the story of the Federal Reserve and alternative gold alone can make it rise tenfold. I also believe that various cryoto technology related businesses can give rise to new businesses and create enormous value. However, for these good business projects, is issuing coins on Binance their only choice? Definitely not! Previously, due to compliance reasons, cryptocurrency projects could only issue coins and could not go public. However, now that the compliance environment is so good, a large number of companies are queuing up to list on NASDAQ. Founders really need to think carefully about whether to issue coins on CEX or Nasdaq, as the cost of listing on Nasdaq is already lower than on Binance. Other institutions are not clear, but we are already coaching several projects we have invested in and preparing to list them on Nasdaq. Their common characteristic is to work hard on products to generate revenue, and they are not good at or disdainful of "cutting leeks", but they are also worried about the bear market. If this continues, some of the high-quality entrepreneurial projects in the cryptocurrency industry will move towards the stock market, creating a larger compliance pool. Some are moving towards on chain DEX, firmly adhering to their web3 ideals. And CEX, if they cannot convince high-quality projects to issue coins instead of stocks, they may have to find more troublemakers to attract customers to PVP.