The live broadcast war on crypto exchanges: The next user battle is breaking out in the live broadcast room

Author: Anita

From the end of 2024 to the beginning of 2025, a major event that seemed to be "not very encrypted" occurred in the crypto industry: live broadcast is becoming a new battlefield for major top exchanges to plan.

From Binance to Huobi (HTX), to Gate.io and Bitget, the live broadcast function is gradually evolving from a "icing on the cake" service to the strategic core of trading platforms for traffic, activate communities, and bind KOLs. This is not a simple functional upgrade, but a change in the underlying competition logic of the exchange.

In this market driven by speed and emotion, live streaming is reshaping information flow, transaction chain and community ecology.

The three logics of "volume" live broadcast on the exchange: traffic, conversion and content moats have passed, and the competition among crypto exchanges mostly revolves around the infrastructure levels such as matchmaking engines, asset security, and product innovation. However, as this type of "hard indicator" gradually converges, differentiation between platforms begins to shift to the "soft layer" - user experience, community atmosphere and content ecology have become a new battleground for military strategists.

Live streaming is a powerful tool to improve user retention. The natural shortcomings of the crypto trading platform are the user 's "low stickiness". Most users only stay for a short time after completing the transaction, the platform's activity is difficult to improve, and the sense of community is seriously lacking.

Live streaming just happens to break this "static usage mode". It turns transactions from single-point behavior into a continuous process of participation:

• Users can watch, chat and trade to enhance their sense of participation;
• Real-time market analysis and KOL interpretation to improve investment confidence and trading frequency;
• The platform uses this to bind KOLs, expand community influence, and form a flywheel for content-community-transactions.

Content is transactions, and live broadcast promotes "instant conversion closed loop". The core of the crypto market is information-driven: a tweet, an AMA, or even an emoticon may become the trigger points of market sentiment. Compared with graphics, text, video and other forms, live broadcast has a higher interaction density and propagation speed.

More importantly, the deep integration of live broadcast + transactions has brought about a new product model:

• Users can click "Recommended Currency" in the live broadcast room to place an order directly;
• Supports one-click order follow-up and automatic strategy replication to realize learning and investing;
• Data, signals and emotions are linked in real time to improve decision-making efficiency.

This makes live streaming no longer just a "information dissemination tool", but a new paradigm of ** Content-as-Trade**.

The KOL battle escalates, and the content moat floats in the Web3 world, "Traffic = Consensus = Assets". KOL, creators, and communities are one of the most important non-standard assets of the platform.

The platform is deeply bound to KOL through live broadcast, making KOL no longer just a traffic entrance, but also a part of the exchange ecosystem:

Binance creates "Binance Square" to make KOL a content producer;

• Huobi uses analyst live broadcast to establish professional barriers;
• Gate.io explores the new social trading gameplay of live broadcast + order + NFT.
• Whoever can turn KOL into a "ecological node" of the platform will be the first in terms of traffic and transaction conversion rates.

The three leading exchanges have different live broadcast styles◉ Binance: The community-driven content platform Binance emphasizes the linkage between community and ecology in live broadcast layout, forming a content stream around Binance Square.

Build a knowledge portal through AMA, new currency explanation, and live market broadcast;

• The KOL settlement system cooperates with Launchpad promotion to create a "content + currency listing" collaboration;
• Users can ask questions and interact in real time to enhance the stickiness of the platform.
• But at the same time, compliance issues for KOL recommended projects have begun to emerge, and content thresholds and regulatory pressure coexist.

◉ Huobi (HTX): The trading-based professional live broadcast Huobi Live focuses more on professional traders, led by the analyst team, focusing on contract strategies and macro interpretation.

• You can trade directly in the live broadcast room, emphasizing the smooth experience of "analysis-decision-ordering";
• The content is mainly Chinese and deeply rooted in the Asian trading market;
• Create an expert-oriented content matrix to improve the professionalism of the platform.
• The disadvantage is that the interactivity is relatively insufficient and the content diversity is slightly limited.

◉ Gate.io : Create a new species of "live streaming + social transactions", Gate.io's live streaming tends to be a "social experimental field", striving to integrate live streaming into the interactive logic of Web3.

• Support user follow-up anchor strategy and promote community investment mechanism;
• Introduce AI-driven market interpretation to improve content generation efficiency;
• Link with content ecology such as NFT, chain games, etc. to broaden the boundaries of live broadcasts.

However, the overall voice of the platform is not as good as Binance Huobi, and the influence and content quality of KOL still need to be enhanced.

Trend Outlook: Will live broadcast become the "standard function" of the

exchange?

AI-driven personalized live broadcast recommendations With data accumulation and AI development, the platform may realize live broadcast recommendations with thousands of people in the future:

• Interpretation of DeFi strategy recommended by active users on the chain;
• NFT collectors push art live broadcast;
• The contract player is guided into the high-frequency strategy room.

Live broadcast will become an interface for intelligent recommendation and a prelude to trading behavior.

Standard configuration of exchanges: From "pilot" to "must-have" At present, the live broadcast function is still in the early stage of exploration, but it has shown strong user conversion capabilities. Platforms such as OKX, Bybit, Bitget are very likely to follow up quickly, and connect live streaming as a standard function to the trading interface, becoming the "operating system component" of the next generation of exchanges.

The rise of decentralized live broadcasts With the improvement of Web3 infrastructure, decentralized live broadcast protocols such as Theta Network and Livepeer will also become alternatives in the future. They focus on anti-censorship, transparency, and creator incentives, and may reconstruct the content distribution logic of existing live broadcasts.

For the exchange, this is both an opportunity and a challenge - how to balance centralized control and open content determines the future direction of the live broadcast ecosystem.

Conclusion: At the end of live broadcast is content financial live broadcast, which is moving from entertainment tools to content financial engines. It not only connects KOLs and users, but also connects information, emotions and trading behaviors, becoming a new gear that drives the growth of the platform.

But the challenges of live streaming are also obvious: content supervision, investment risks, manipulation controversy, and insufficient professionalism. Once these issues are improperly handled, they will become a new "minefield" of encryption platforms.

For the exchange, live streaming is an "offensive defense": it must not only seize the minds of users, but also maintain the bottom line of supervision.

This new battle has just begun.

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