Crypto Coins News - Ratings - Reviews
There's something I'm trying to understand.
So coinmarketcap says there's 3$bn of bitcoin traded daily. Even if 90% of that is washed – that still leaves $300m that changes hands every day, and that's excluding OTC (which is probably even bigger).
My question is – who makes up all this volume? Like what kind of entities?
On the selling side I'm guessing it's miners + anyone who gets paid in cryptos they don't want. But on the buying side? Retail investors are completely inactive – and institutional money is not yet in. Market makers and liquidity providers I get – but they must be making the market FOR someone? Who is that someone? Is it some sort of day trader?
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