The greatest invention in the crypto world is perpetual contracts, not coin-margined trading. This means platforms and whales don’t need to rely on spot trading to make money or control chips through spot trading—they can just harvest through contracts. Without contracts, the cost of market manipulation would be huge, and the profits from operations wouldn’t be as massive. Nowadays, an estimated 90% of the retail traders in the market are playing with contracts, and very few are into spot trading.