ChainUp released the Exchange Operator's Intelligence Report 2026 today, revealing a 'silent migration' occurring across the crypto sector. The study found that 60% of active crypto traders have shifted their primary trading venue within the last 24 months, signaling a profound erosion of traditional brand loyalty. In the 2026 market, 99% of traders are prepared to migrate platforms for even marginal improvements in execution utility or token availability. The report confirms that technical reliability and compliance have transitioned from competitive differentiators to baseline requirements where platform stability is simply a prerequisite for entry. The findings suggest that internal infrastructure friction often drives high-volume liquidity to more efficient competitors long before a definitive drop in user numbers is detected.