Kaiko: Insufficient liquidity exacerbated the sell-off of BCH caused by the Mt.Gox compensation, and the decline last week reached 20%
Odaily2024/07/09 11:11
By:Odaily
Odaily News According to
TradingView, BCH fell 20% last week, the biggest drop since April. “The
BCH price slippage chart, which simulates a $100,000 sell order, has reached its highest level in more than a month on most exchanges, indicating that liquidity is deteriorating due to insufficient order depth for large
market orders,” Kaiko said in a newsletter published on Monday. Slippage refers to the difference between the expected price of a transaction and the actual execution price, and its peaks represent poor market liquidity and/or high volatility. According to Kaiko, on July 5, the day Mt. Gox announced its repayment, the BCH market slippage on Bybit rose from 0.2% to 2.8%, and on Itbit from 0.3% to 3.5%. Kaiko said that the poor liquidity “coincides with the strong selling pressure associated with the Mt. Gox repayment event, and the highest increase in slippage was observed on Itbit and Bybit.” Arca Chief Investment Officer Jeff Dorman said market makers have completely disappeared, similar to the credit market in 2009-2010. (CoinDesk)
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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