The logic behind this article is that in the same market, with similar audiences and targets, the efficiency of capital utilization should be similar. To avoid accusations of bias, I used Hyperliquid as a benchmark (daily average contract trading volume of $6.89 billion, corresponding to $4.88 billion TVL), with a daily average ratio of 1.44x – hence this widely circulated chart. Note: This is contract trading data and does not consider the policies/activities of various exchanges. Later research revealed that @MEXC_Official's figure is due to multiple trading incentive activities and a 0% fee policy, so there's no need to use Fud. The conclusion isn't important; just remember three things, especially the third: 1. Methodology: Volatility/Pollution (vol/por) is more telling than absolute values. 2. Crypto trading volume is still in its early stages. 3. Welcome everyone to http:/youcanshortit.com short! 😄 twitter.com/agintender/status/...