The oligopoly effect in the crypto world is very obvious: For every $1 the industry earns, $0.34 goes into the pockets of Tether and Circle. HYPE controls 80% of the Perp DEX market share. Aave and Compound take up 82% of lending fees. On the surface: thousands of projects, hundreds of chains. But the ones truly making money: 1-2 winners in each sector. Once you understand this, you'll get it: The second place still has a chance. The third place basically has no future.