BHI 3.0·Q1 2026 Bulletin
Last computed 14:32 UTC, Apr 29 2026·Spearman ρ = 0.83·Validation: preliminary
Today's bulletin →
Movers · since 14:32 UTC, Apr 29 2026
PLATFORM PROFILEBNB

Binance (Exchange)

PrivateLargest CEX by volumeCrypto Infrastructure
3.47
B-index (V3.1)
BLACK HOLE
Capture1.560
Escape0.449
Key Structural Insight

Exchange lock-in is invisible until you try to leave. Fee tier and liquidity cannot be forked.

Eleven-Parameter Profile

5DATAMEMACTPROCNETCLOSEPORTSUBFALLORGMOM
Data Depth8/10
Memory6/10
Action7/10
Process7/10
Network9/10
Closeness8/10
Portability4/10
Substitutability4/10
Human Fallback6/10
Org Depth7/10
Momentum6/10
Capture Escape Extended

V3.1 Decomposition

ComponentValueFormula
CES₄ capture core0.6982CES(d, m, a, p)
Knowledge synergy σₖ0.6928√(d · m)
Operability synergy σₒ0.7000√(a · p)
Synergy boost1.20891 + 0.3·(σₖ + σₒ)/2
Org-depth multiplier1.35001 + 0.5·o
Momentum multiplier1.18001 + 0.3·t
Total Capture1.5597c·(1+0.5n)·core·syn·org·mom
CES₃ escape core0.4622CES(x, s, h)
Feedback attenuation0.7556max(0.3, 1 − 0.35·core)
Total Escape0.4492ε + escCore · feedback
B = Capture / Escape3.471.560 / 0.449

Scoring Rationale

Complete trade history, KYC, fee tier, margin tier, sub-accounts, API integrations — all non-portable. Deepest liquidity. Can withdraw tokens but not infrastructure.

Parameter Sensitivity

MARGINAL B-INDEX CHANGE PER ±1 SCORE SHIFT
CLOSE8
+0.87
PORT4
-0.42
SUB4
-0.42
MEM6
+0.39
ACT7
+0.35
PROC7
+0.35
FALL6
-0.34
DATA8
+0.33
ORG7
+0.26
NET9
+0.24
MOM6
+0.18
+ raises B (deepens lock-in) lowers B (aids escape)

Comparable PlatformsCrypto Infrastructure (7 peers)

#PlatformTickerB-indexZone
01ChainlinkLINK2.99BLACK HOLEProfile →
02MetaMask (Wallet)-2.56BLACK HOLEProfile →
03CoinbaseCOIN1.83EVENT HORIZONProfile →
04AaveAAVE1.67EVENT HORIZONProfile →
05UniswapUNI0.96GROWING GRAVITYProfile →
06LidoLDO0.80GROWING GRAVITYProfile →
07OpenSea-0.63GROWING GRAVITYProfile →