Early investors are likely sitting on significant gains and could choose to take profits, contributing to immense selling pressure. As such, immediately available liquidity on OP token pairs across decentralized and centralized exchanges is under $10 million – and a single sell order of $600,000 could dunk prices 2% further on Binance.
Bitcoin’s (BTC) Recent Weakness Has Not Been Isolated to Crypto Markets, Coinbase Says
“The average weekday spot volume on CEXs during 1Q24 was $18.8 billion, more than eight-fold the $2.3 billion daily volume...