Sorry, that is so totally illogical --- a common theme in the crypto market.

Competition alone can't fix crypto --- this "free market" is already monopolized.

The largest exchange dwarfs the competition *and* has access to an unlimited supply of stable coins (USDT) that are already involved in more than half of all crypto trades and can easily be used to manipulate and control the "free market".

By the sheer weight of their trading volume, other exchanges (even decentralized ones) are literally forced to follow the leader's pricing. Any significant deviation becomes a buying opportunity for the lead market maker who also just happens to be an active trader with unlimited funding. This blatant conflict of interest (aka "fraud") would never be tolerated in any regulated market.

Bottom line: As it currently exists, there is nothing really "free" about the crypto market.