For large traders, the biggest fear isn’t market volatility—it’s having one large order of their own smash through the order book.
A few thousand and a few million may both look like buy orders, but their liquidity costs are on completely different levels:
Small orders can go through the order book, while large orders consume several levels of depth in a row, pushing the execution price higher and higher.
One project aims to solve this with smart routing: small orders go through the order book, while large orders are automatically matched with quotes from institutions.
Multiple firms compete, and the one with the lowest cost is selected. Trading through its channels carries a 0% fee, with a launch planned for the fourth quarter.
My take: What ordinary users need to learn isn’t how to use this project, but to avoid slamming large orders into the market at market price.
Split them up, use limit orders, and count slippage as a real cost.
$BTC
#热点 $MRVL
A few thousand and a few million may both look like buy orders, but their liquidity costs are on completely different levels:
Small orders can go through the order book, while large orders consume several levels of depth in a row, pushing the execution price higher and higher.
One project aims to solve this with smart routing: small orders go through the order book, while large orders are automatically matched with quotes from institutions.
Multiple firms compete, and the one with the lowest cost is selected. Trading through its channels carries a 0% fee, with a launch planned for the fourth quarter.
My take: What ordinary users need to learn isn’t how to use this project, but to avoid slamming large orders into the market at market price.
Split them up, use limit orders, and count slippage as a real cost.
$BTC
#热点 $MRVL