I believe the crypto futures market will end (or at least significantly weakened) when decentralized exchanges (DEX) take hold and the community gives sufficient significance to DEX as a primary reference point for prices and trades.

The reasons why (I think) the futures market continue to have dominance are because 1) the community gives unjustifiably high significance to the futures market as a primary reference point for prices and trades, and 2) the cartel is able to print as much money and issue as many futures contracts to sell into the market and crashes it.

If we refer to the futures market whereby an entity can issue unlimited amount of futures contract (without cost) to sell into the market, then of course the market would crash.

But we need to realize this: the crypto market is supposed to be blockchain-based, i.e. involving onchain transactions transparent to all. Futures market is offchain-based and opaque to all. If we do not give significance to such market, everything would be fine, but we don't.

If we gives significance to DEX in which all transactions will be onchain, then this "cartel" entity would not be able to issue unlimited futures contract to sell and whatever selling it executes will all be disclosed to all.

I believe the future is DEX, but still this will be the choice of the people.

If the people that favor crypto want the crypto industry to last, to be free of manipulation, then they must give higher priority to DEX, not to centralized exchanges where manipulation is made possible.

Update:
Just as coinmarketcap excluded prices from Korean exchanges because their prices deviated too high from every other non-Korean exchanges (last time), coinmarketcap should do the same with prices determined from any futures market.
We should shift the focus on priority from futures exchanges (CME) back to centralized and decentralized exchanges to restore order.
One way to do this is by excluding any price reference from the futures market.
What are the justifications? Futures transactions are not blockchain-based. Futures market involves substantial opportunity for certain entity to issue futures contracts (without cost) to manipulate the price on the downside.
Centralized exchanges are more relevant than futures market. Even though they are still offchain, all the parties involved do not have the ability to issue any excess supply without cost to dump into the market.
Thus, just price reference to the futures market is invalid and should be taken out of reference.

Eventually, DEX should be the primarily one and only source of price and trade reference. This would totally eliminate manipulation and restore market order.