Crypto Exchanges’ Live Broadcast Wars: The Next Battle for Users Is Beginning in Live Broadcast Rooms

Author: Anita

From the end of 2024 to the beginning of 2025, a seemingly "not so crypto" event occurred in the crypto industry: live streaming is becoming a new battlefield that major exchanges are competing to lay out.

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

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

The triple logic of exchanges' "rolling" live broadcast: traffic, conversion and content moat In the past, the competition among crypto exchanges was mostly centered around infrastructure levels such as matching engines, asset security, and product innovation. However, as these "hard indicators" gradually converge, the differentiation between platforms has begun to shift to the "soft layer" - user experience, community atmosphere and content ecology have become new battlegrounds.

Live streaming is a powerful tool for improving user retention. The natural shortcoming of crypto trading platforms is the "low stickiness" of users. Most users only stay for a short time after completing a transaction, making it difficult to improve platform activity and lacking a sense of community.

Live streaming can break this "static usage model". It transforms transactions from a single point of action into a continuous participation process:

• Users can watch, chat and trade at the same time, which enhances 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 of content-community-transaction.

Content is transaction, live broadcast promotes "instant conversion closed loop" The core of the crypto market is information-driven: a tweet, an AMA or even an emoticon package may become the detonation point of market sentiment. Compared with pictures, texts, videos and other forms, live broadcast has a higher interaction density and transmission speed.

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

• Users can click "Recommended Currency" in the live broadcast room to place an order directly;
• Support one-click copy trading and automatic strategy copying, so you can learn and invest at the same time;
• Data, signals and emotions are linked in real time to improve decision-making efficiency.

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

The battle for KOLs is escalating, and content moats are emerging in the Web3 world, where “traffic = consensus = assets”. KOLs, creators, and communities are one of the most important non-standard assets of the platform.

The platform is deeply connected with KOLs through live broadcasting, making KOLs no longer just traffic entrances, but also a part of the exchange ecosystem:

Binance created "Binance Square" to allow KOLs to become content producers;

• Huobi builds professional barriers through analyst live broadcasts;
• Gate.io explores new social trading methods of live streaming + copy trading + NFT.
• Whoever can turn KOL into the "ecological node" of the platform will be able to take the lead in traffic and transaction conversion rate.

The three major exchanges have different live streaming strategies ◉ Binance: A community-driven content platform, Binance emphasizes the linkage between community and ecology in its live streaming layout, forming a content flow around Binance Square.

Build a knowledge portal through AMA, new currency explanations, and market live broadcasts;

• The KOL entry system cooperates with Launchpad promotion to create a "content + coin listing" synergy;
• Users can ask questions and interact in real time to enhance platform stickiness.
• But at the same time, compliance issues of KOL recommendation projects have also begun to emerge, with content thresholds and regulatory pressures coexisting.

◉ Huobi (HTX): A professional live broadcast based on trading. Huobi Live focuses more on professional traders and is led by a team of analysts, with an emphasis on contract strategies and macro interpretations.

• Transactions can be made directly in the live broadcast room, emphasizing the smooth experience of "analysis - decision-making - ordering";
• The content is mainly in Chinese, focusing on the Asian trading market;
• Create an expert-oriented content matrix to enhance the professionalism of the platform.
• The disadvantages are that the interactivity is relatively insufficient and the content diversity is slightly limited.

◉ Gate.io : Creating a new species of "live broadcast + social transaction" Gate.io's live broadcast tends to be a "social experiment field", striving to integrate live broadcast into the interactive logic of Web3.

• Support users to copy anchor strategies and promote community co-investment mechanisms;
• Introducing AI-driven market interpretation to improve content generation efficiency;
• Link with NFT, blockchain games and other content ecosystems to expand the boundaries of live streaming.

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

Trend Outlook: Will live streaming become a “standard feature” of exchanges?

AI-driven personalized live broadcast recommendations With the accumulation of data and the development of AI, the platform may be able to provide personalized live broadcast recommendations for different people in the future:

• Interpretation of DeFi strategies recommended by active users on the chain;
• NFT collectors push art live broadcasts;
• Contract players are guided into the high-frequency strategy room.

Live streaming will become an interface for intelligent recommendations and a prelude to trading behavior.

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

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

For exchanges, this is both an opportunity and a challenge - how to strike a balance between centralized control and open content will determine the future direction of the live broadcast ecosystem.

Conclusion: The end of live broadcast is content financialization live broadcast, which is moving from an entertainment tool to a content financialization engine. It not only connects KOLs and users, but also connects information, emotions and transaction behaviors, becoming a new gear to drive platform growth.

But the challenges of live streaming are equally obvious: content supervision, investment risks, manipulation disputes, and lack of professionalism. Once these issues are not handled properly, they will become new "minefields" for encrypted platforms.

For exchanges, live streaming is an “offensive defense”: it is necessary to capture the minds of users while also maintaining the regulatory bottom line.

This new battle has just begun.

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