Key TakeawaysStrategic Differentiation: Binance offers retail - centric on - chain services to lower the barrier to entry for Web3. Bybit has launched a standalone platform, ByReal, to provide CEX - level liquidity on - chain. Coinbase, on the other hand, has adopted a dual - track model targeting both retail and institutional users.Why CEXs Are Moving On - Chain: With an increasing number of early - stage tokens being initially launched on decentralized exchanges (DEXs), centralized exchange...

Key TakeawaysStrategic Differentiation: Binance offers retail - centric on - chain services to lower the barrier to entry for Web3. Bybit has launched a standalone platform, ByReal, to provide CEX - level liquidity on - chain. Coinbase, on the other hand, has adopted a dual - track model targeting both retail and institutional users.Why CEXs Are Moving On - Chain: With an increasing number of early - stage tokens being initially launched on decentralized exchanges (DEXs), centralized exchange...