Binance is too big to fall drastically or turn into Mt. Gox, It's much more regulated both self and external. The probable fall of binance would come as a competition. But like dethroning something as bitcoin, it would be difficult to dethrone something like Binance. Exchange like FTX seem a good option but even that uses many aspects of binance and is linked to it.
Binance is too hard to beat these days. Only a strong competitor will be able to take its place in the future. For what I know, nothing lasts forever. We've seen companies come and go as the world goes round. There's nothing stopping a new crypto exchange from gaining traction in the mainstream world. All it needs is constant innovation, mainstream adoption, and strong marketing/promotion efforts to challenge Binance. Things would've been different if Binance exchange was completely decentralized. But we all know that's not the case today. A major hack or government crackdown will put an end to Binance for good.
Nonetheless, it seems to me that Binance's dominance on the crypto market will last for quite some time. It's a force to reckon with, since no other exchange has been able to provide better service and/or user experience in the industry. What matters is that crypto/Blockchain tech stays as decentralized as possible. With decentralized exchanges and atomic swaps, Binance dominating the crypto market is no longer an issue. Time will tell us if Binance will remain as the leading crypto exchange or go all the way down the drain. Just my thoughts
