The real problem is people don't care about decentralization
Speculators (and their bots) will clearly have positions on the exchanges with the biggest volumes.
The centralized exchanges suits them best because of the off chain transactions, where they can buy and sell and buy again all day with much lower fees.
And most don't understand that exchanges have become the Banks of crypto, having so much money in their cold wallets (hopefully) that they can easily destabilize the market or use the real money for their own needs, since many don't really withdraw.
I know and I think it's cancer in the crypto world, it shows that they're not interested in the cryptocurrency ideology, money matters and nothing else. As long as the cow produces milk they will be there to suck it.
I agree with the Banks of crypto and thinking about it's not much different compared to how banks were born centuries before. People gave their gold to be stored but never withdrew it or rarely, so the smart dude started taking advantage of this opportunity to offer loans to others and thus earn interest.
