儘管買賣價差凸顯風險，Meme 幣流動性仍創歷史新高

一般來說，流動性增加會導致買賣價差收窄，但迷因幣的情況並非如此。

Despite Surging Liquidity, Meme Coins Continue to Exhibit High Bid-Ask Spreads

儘管流動性激增，Meme 幣的買賣價差仍然很高

While liquidity is typically associated with tighter bid-ask spreads, this trend does not apply to meme coins, according to data from Kaiko.

根據 Kaiko 的數據，雖然流動性通常與較窄的買賣價差相關，但這種趨勢並不適用於 meme 幣。

Despite surging liquidity, as measured by 1% market depth, meme coins continue to exhibit bid-ask spreads above 2 basis points on most centralized exchanges.

儘管流動性激增（以 1% 的市場深度衡量），但 Meme 幣在大多數中心化交易所上的買賣價差仍超過 2 個基點。

According to data汇总 by Paris-based Kaiko, liquidity for prominent meme coins, including DOGE, SHIB, PEPE, WIF, BONK, GROK, BABYDOGE, FLOKI, MEME, HarryPotterObamaSonic10Inu and HarryPotterObamaSonic, recently surged to $128 million. This figure represents the total value of buy and sell orders within a 1% range of the current market price. Higher liquidity, indicated by a larger dollar amount, facilitates the execution of large orders at stable prices.

根據總部位於巴黎的 Kaiko 匯總的數據，包括 DOGE、SHIB、PEPE、WIF、BONK、GROK、BABYDOGE、FLOKI、MEME、HarryPotterObamaSonic10Inu 和 HarryPotterObamaSonic 在內的知名模因幣的流動性最近飆升至 1.28 億美元。此數字代表當前市場價格 1% 範圍內的買賣訂單總價值。美元金額越大，流動性越高，有利於以穩定的價格執行大訂單。

However, Kaiko notes that this increase in liquidity has not led to tighter bid-ask spreads, which typically indicate better trading prices and lower execution costs.

然而，Kaiko 指出，流動性的增加並沒有導致買賣價差收窄，這通常表示交易價格更好，執行成本更低。

"This suggests that while more market makers are venturing into providing liquidity for these tokens, they are still considered risky due to their high volatility," Kaiko stated.

Kaiko 表示：“這表明，雖然越來越多的做市商正在冒險為這些代幣提供流動性，但由於其高波動性，它們仍然被認為存在風險。”

In its weekly newsletter, Kaiko also highlighted a separate trend among small-cap meme tokens. While a portion of the liquidity increase can be attributed to rising prices, several tokens have experienced substantial growth in liquidity in native units.

Kaiko 在其每週通訊中也強調了小盤 meme 代幣的一個單獨趨勢。雖然流動性增加的一部分可以歸因於價格上漲，但一些代幣的流動性以原生單位計算卻出現了大幅增長。

"For example, Dogwifhat (WIF), Memecoin (MEME), Book of Meme (BOME) saw 200% to 4000% growth in liquidity, respectively," the newsletter reads.

「例如，Dogwifhat (WIF)、Memecoin (MEME)、Book of Meme (BOME) 的流動性分別增長了 200% 至 4000%，」時事通訊寫道。