The Nash non-custodial exchange reached an all-time high in daily trading volume of approximately US $15.08 million on March 13, 2021. The majority of that day’s volume took place in the ETH/BTC market over a 20-minute timeframe.
Following the large trade, many Nash users initially questioned if there was a bug in the UI. Nash employee, Anton, confirmed the volume was organic and likely an arbitrage trade. In the official Telegram channel, he said:
It’s regular volume, not a bug. It’s a very volatile market situation at the moment, so heavy arbitrage is not uncommon… I can say with my knowledge and experience that arbitrage makes more than 70-80% of volumes on all exchanges…. Arbitrage is not only [a] legit trading tactic, but [the] most used one.
We want to welcome such arbitrage opportunities on Nash. To see [this] volume made in short time with almost no slippage, and with very nice fees on [the trade] is something that we should be happy about, and try to attract more and more traders to do the same.
Before the new record, Nash’s all-time high in daily trading volume was roughly $7.2 million. Ultimately, the team noted, “Nash’s order books can support large trades without major slippage.”
The announcement can be found at the link below:
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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