Seeing everyone discussing how Binance gradually gained pricing power after launching TradFi, I couldn't help but express my opinion. Let's start with my favorite target crude oil. Since the end of February, Trump has turned over Shaobing (Baked cake in griddle) for countless times. Basically, every time, it starts on Friday and ends on Monday. At this time, all traditional exchanges have entered a closed state, so Binance, as the ultimate clearing house with the best liquidity, is duty bound to play a role in price discovery over the weekend. Due to the large trading volume and high degree of game, this price is often very accurate. In a sense, the weekend CLUSDT is essentially a predictive market for the opening price of the CME at 18:00 on Sunday. After each CME opening, the price trend of Binance often continues during the closing period. This has resulted in a price gap on the CME due to market closures, while the Binance candlestick is highly interconnected. This situation is particularly evident in the recent 67-94 market, where WTI crude oil hit the bottom and rebounded, first consolidating at 78-81 for a long time before breaking through the 82-84 gap. The premise of traditional gap theory is that there are no transactions or chips within the gap interval, so either quick replenishment or magnetic attraction can be formed. But now the blank space on the CME chart 82-84 has a real distribution of trading volume on Binance - the long positions that chased high in that range over the weekend and the short positions that defended by hanging orders are all real. The consolidation of 78-81 for such a long time is not essentially attacking a vacuum, but digesting a dense trading area that cannot be seen on the CME chart. In addition to crude oil, gold, a major commodity, has also shown a similar situation. But the most important thing is actually the US stock market. Taking SPCX, which I have been playing with recently, as an example, Binance had already run contracts for three weeks before the official IPO. And the high and low points during this period were successively verified after the official listing. In short, the 24-hour round the clock trading model is a significant impact on the original trading form. Starting from the traditional closed market vacuum period to grasp pricing power, cryptocurrency exchanges may gradually gain more say. But this is not without cost, for example, the recent intense market conditions have been a huge drain on our health, and it's already tiring to watch US stocks at night and Korean stocks during the day. I can't even rest on weekends now, I'm really going to cry to death