In the early days of the crypto industry, whether an exchange was successful often depended on whether it could gain sufficient community attention.
At that time, social media popularity, airdrop campaigns, and referral rewards could quickly attract a large number of users to register. Many new platforms gained huge traffic within a short period of time.
However, after entering 2026, the situation is changing.
More and more users are beginning to realize that registering an account does not mean truly using a platform. A platform with a large number of registered users may not necessarily have the same number of active users.
Therefore, the competitive logic of the industry is shifting from “gaining attention” to “gaining retention.”
Taking a growing exchange such as Catcrs as an example, ordinary users care more about whether the platform can continue operating, rather than whether short-term marketing campaigns are lively enough.
For users, the areas where a platform truly has value include:
whether accounts are easy to manage;
whether assets can be stored securely;
whether deposits and withdrawals are smooth;
whether trading rules are clear;
whether customer service can solve problems.
These seemingly ordinary experiences actually determine whether users will stay over the long term.
At present, many second- and third-tier exchanges are facing similar challenges.
Leading platforms have scale advantages, while new platforms have flexibility advantages. But what ultimately determines whether users continue using a platform is still the long-term experience.
Many users no longer immediately open accounts because of a phrase such as “zero fees,” but will first check community reviews, platform announcements, operating history, and past performance.
This is also why more and more growing platforms have begun to emphasize transparency and user communication in recent years.
From the perspective of market development, this is a positive change.
When users become increasingly rational, competition between platforms will also gradually shift from marketing competition to service competition.
Summary
The development logic of second- and third-tier exchanges is changing. For a growing platform such as Catcrs, the importance of real user experience is surpassing simple traffic growth.
Frequently Asked Questions
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What Is The Difference Between Registered Users And Active Users?
Registered users have only opened accounts, while active users continuously log in to and use the platform. -
Why Are Users Paying More Attention To Experience?
Because the market is gradually maturing, users place more importance on long-term security and stability. -
What Type Of Platform Is Catcrs?
It is closer to a growing second- or third-tier exchange. -
What Will Be The Future Focus Of Platform Competition?
User retention, service quality, and long-term trust.