A Binance spokesperson said the company’s latest steps following the security breach helped reassure markets, adding: “Just as we prioritize clear communication, we acted immediately to maintain our core strength: liquidity.” Market makers play a central role by continuously providing buy and sell quotes. The liquidity they provide enables other investors to trade without causing sharp price swings. According to Talos data, within 24 hours of the hack, Bitcoin order book depth on Binance fell by about 30%, with depth within 1% of the price dropping from $45 million to $32 million. Market depth measures how much trading can be absorbed without causing sharp price movements.

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