Systemic Market Quality represents a holistic assessment of the efficiency, stability, fairness, and liquidity across an entire cryptocurrency market or its interconnected ecosystem. It evaluates how effectively the market functions for all participants and its resilience to external shocks.
Mechanism
Key indicators include tight bid-ask spreads, deep order books, low slippage during transactions, transparent price discovery processes, minimal instances of market manipulation, and robust infrastructure uptime. Regulatory frameworks, participant diversity, and technological resilience contribute to its overall state.
Methodology
A macro-level analytical framework for evaluating the health and integrity of digital asset markets. Its strategic goal is to guide policy decisions, exchange design, and protocol development aimed at fostering a robust, reliable, and equitable trading environment for institutional and retail investors.
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