尽管买卖价差凸显风险，Meme 币流动性仍创历史新高

一般来说，流动性增加会导致买卖价差收窄，但模因币的情况并非如此。

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

尽管流动性激增，Meme 币的买卖价差仍然很高

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

根据 Kaiko 的数据，虽然流动性通常与更窄的买卖价差相关，但这种趋势并不适用于 meme 币。

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.

尽管流动性激增（以 1% 的市场深度衡量），但 Meme 币在大多数中心化交易所上的买卖价差仍然超过 2 个基点。

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.

根据总部位于巴黎的 Kaiko 汇总的数据，包括 DOGE、SHIB、PEPE、WIF、BONK、GROK、BABYDOGE、FLOKI、MEME、HarryPotterObamaSonic10Inu 和 HarryPotterObamaSonic 在内的知名模因币的流动性最近飙升至 1.28 亿美元。该数字代表当前市场价格 1% 范围内的买卖订单总价值。美元金额越大，流动性越高，有利于以稳定的价格执行大额订单。

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，流动性的增加并没有导致买卖价差收窄，这通常表明交易价格更好，执行成本更低。

"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：“这表明，虽然越来越多的做市商正在冒险为这些代币提供流动性，但由于其高波动性，它们仍然被认为存在风险。”

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 在其每周通讯中还强调了小盘 meme 代币的一个单独趋势。虽然流动性增加的一部分可归因于价格上涨，但一些代币的流动性以原生单位计算却出现了大幅增长。

"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) 的流动性分别增长了 200% 至 4000%，”时事通讯写道。