Crypto Volume Is Easier to Fake Than Liquidity Seeing billions in daily trading volume next to $DOGE or another heavily traded token looks impressive, but volume isn't necessarily the first number I'd use to judge how easy something is to trade. The same capital can change hands repeatedly during a session, and reported volume says surprisingly little about what happens when somebody actually places a large order. Order-book depth and slippage give you a different view. If a million market order moves the price significantly, knowing that the pair traded hundreds of millions during the previous 24 hours isn't particularly comforting. This becomes especially relevant during volatile periods, when liquidity providers may widen spreads or pull quotes precisely when traders need liquidity most. It's one reason I think comparing crypto markets purely by 24-hour volume misses quite a lot. I'd rather know how much size the market can absorb around the current price, and whether that depth is still there when volatility arrives. #Macro Insights# #Altcoin Season#