Explains why books were paper thin and spreads were so wide
My sense is that a lot of crypto market makers turn off their systems post US close on a friday and don’t start up again until 5pm Sunday or maybe even later, hence wild moves on Sat/Sun. All else equal, should lead to good profits for anyone who stays up over the weekend.
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No it’s because Venus/Mars was in retrospective
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Knew I should have listened to
@marenaltman - Show replies
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I believe alameda is an exception. On https://www.nansen.ai u can see their wallets active at least in dex-land over the weekend.
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And yet people were exposed to being stopped out? That seems like insanely bad risk management
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Bad risk management by crypto market participants? Impossiblepic.twitter.com/oisw0alQvB
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Ya think? Lol
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This a serious tweet?
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USD funding is an issue over weekends. Hard to predict volumes vs leaving cash sitting there just in case. So they are definitely constrained at time but still making mkts for sure. Just liquidity differences.
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Saturday+Sunday weekly holidays to make us appreciate MM's hard work on other days?
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