Definition ∞ A competitive market describes an economic environment characterized by numerous buyers and sellers, where no single entity can dictate prices. Participants operate with relatively complete information, and entry or exit barriers are minimal. This structure generally promotes efficiency and innovation through price competition and consumer choice. It contrasts with monopolistic or oligopolistic conditions.
Context ∞ In the digital asset space, discussions about competitive markets often involve assessing the degree of decentralization and the presence of dominant platforms. Regulatory bodies frequently examine these market structures to prevent anti-competitive practices and foster fair trading conditions. The ongoing development of new protocols consistently reshapes competitive dynamics within the broader digital economy.
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