I had a recent debate with friends about what is coming next to CeFi industries. They insist there's a direct relation between bitcoin adoption and their existence. As a random guy using p2p until 2019, I don't know if this is accurate. To me, CeFis exchanges are just salesman that changes over time.
I mean, they're big players, yes but they are not as important as they -my friends- think. Maybe I'm wrong, what do you think?
I think it's mostly about liquidity and speed, you cannot have those in a decentralized way as far as I know. Price discovery is made by speculators in a market that needs high liquidity and depth.
Thoughts: CeFis are mean to change over time