It's the same principle, cex itself hardly has any users anymore, and alpha is the same. I said, once it goes up, the empty city strategy is broken. Now alpha and spot can only list small market cap tokens
Actually, spot trading on CEX is quite awkward right now because the secondary market really has no users or funds anymore. Listing there would look very bad. Once the empty city strategy is broken, the myth of CEX will be shattered.