Everyone knows Binance is the world's number one exchange, but who's number two? The second place is debatable; I've seen several exchanges claim to be second. Mount Everest is the world's highest peak, but what's the second highest? Usain Bolt is the fastest man in the world, but who's the second fastest? Few people know the answer; people tend to only remember the first. The top brand's mental dominance is simple and effective. A winner-takes-all culture and network effects give the winner the most attention, attracting more customers, talent, and capital. Success is self-reinforcing, making it easier to maintain the top spot. Therefore, those ranked second, third, fourth, and fifth should also strive to become number one in a specific niche, with qualifiers. For example, Coinbase is the world's number one compliant exchange, and Upbit is the number one exchange in South Korea.