Binance's power is nearly equal to that of most of the cryptocurrency world, and it controls the two top-level principles of user and liquidity. With these two, it's invincible.
Now that MEME has been incorporated into BSC, SOL will struggle to recover. The next step will likely be a native PREP DEX, or even a prediction market.
I originally wondered if compliance and other factors might be avoided, but now that on-chain DEXs have emerged, the same should apply to others.
The giants move slowly, but when they do, their impact is formidable.