You've hit the nail on the head when it comes to why crypto exchanges invest so heavily in their ecosystems. In a market as dynamic and competitive as crypto, innovation and adaptability are not just nice-to-haves; they're necessities for survival and growth. The points you've outlined cover the critical aspects—competitive advantage, service expansion, and revenue diversification. I think these elements feed into each other, creating a virtuous cycle that benefits both the exchange and its user base. Exchanges like for example, have been making strides in this area. They've developed a feature-rich platform that caters to both novice and experienced traders.