WhiteWhale is steadily progressing towards its established goal. The project's 500m milestone ($WhiteWhale tokens) has attracted the attention of several mainstream exchanges — a leading exchange has already gone live, and it is expected that other compliant platforms will follow. However, from an ecological perspective, the true determinant of the project's direction is not the actions of a single exchange. On-chain activity and actual usage are the core competitive advantages — this is also the key to whether the project can break through the 500m target. Instead of focusing on which exchange goes live first, it’s better to observe the genuine growth of the on-chain ecosystem, as that is the core indicator of the project's potential.