Today's cooking thoughts: If we remove the inflated trading volume from CEXs, the share of DEXs should theoretically be greater than the 20% reported in official statistics. However, DEXs have yet to quantify the actual volume from major traders. So AltCEXs (excluding Binance and monopolistic compliant exchanges) will either move towards a DEX+CEX one-stop model or transition to new types of CEXs, such as creating a separate valuation-focused segment (though this isn't a profitable business model). Currently, DEXs are limited by the speed of the underlying blockchain. If the blockchain becomes sufficiently high-performance, professional quantitative users from CEXs should theoretically migrate to DEXs. This could be the turning point for DEXs. However, achieving this requires significant customization of infrastructure. Network/Server/Wallet. The most certain direction for high-performance public blockchains remains trading, while other use cases are typically explored after achieving high speed. Standardized competition is the optimal choice. But if a blockchain fails to address even one of these three aspects or hasn't thoroughly considered them, it will struggle to retain trading volume on-chain and may essentially exit the game. Upon review, very few blockchains meet these criteria. Solana has worked on the network, Sui has partially addressed the server, and Megmaeth has focused on the wallet.