The competition has always been huge. It is not only now. I think a lot depends on marketing here. If the team will rely on the promotion and advertising of the project, they will succeed!
Competition has always been high, regardless of whether it is on the Internet or in real life, everyone wants to be better than the other, this is what drives projects.
But you need to understand the fact that without a good and high-quality advertising, not a single project can hold out for long in the market, which means you need a marketer who can really do everything clearly.
Good marketing is needed for a new platform to explore their potential in gaining their loyal users.
However, you can only market a platform if they have honest-to-goodness product that you can boast of.
And being a licensed exchange platform is I think a good way to start.
Though it doesn't secure the platform's success, yet, people's trust start from the legalities of the platform.
However, when someone says they are based from Australia, I think of Cryptopia.
So how did you evaluate your exchange's security? Is there some sort of third party validating your tight security?