Behind the prosperity of leading exchanges' ecosystems, there is a sophisticated market operation mechanism. Starting with a recent new boost mechanism launched by a certain exchange, which supports rapid listing of meme coins, the entire ecosystem's rhythm has been completely changed.

On-chain movements have become particularly interesting. On one side, frequent 1-minute level washout phenomena occur after new tokens are launched; on the other side, exchanges continuously pump popular coins to create buzz. The morning's sharp price surges often trigger chain reactions—price movements of SOL and other mainstream coins immediately follow suit, forming a battle for on-chain attention.

This mechanism has been pushed to the extreme. Whoever can capture market attention can attract traffic. Once a competitor's abnormal movement is detected, the exchange ecosystem immediately responds by using funds to suppress other options, refocusing all eyes. On the surface, this appears to be a natural result of market competition, but behind this "attention war" lies increasing pressure—the market is like an inflated balloon, with capital constantly being concentrated into specific sectors.

The problem is, once this highly concentrated structure is relieved, the consequences can be quite terrifying. In the short term, it is a liquidity game; in the long term, vigilance is needed regarding the fragility of the market structure.