James Henry
Well-known member
Whale behavior often dictates liquidity flows, but interpreting it requires caution—large movements can be strategic noise rather than clear signals. CEXs may offer private tiers and deep books, yet they carry custodial risks and opaque internal practices. DEX aggregators benefit from composability and gas incentives, though fragmented liquidity and MEV exposure remain challenges. High-frequency wallets using custom contracts highlight a trend toward bespoke infrastructure, inaccessible to retail. The key is balancing fee efficiency with execution quality and platform resilience. Sustainable platforms are those aligning incentives for all participants—not just whales.