The core of DeFi lies on-chain, yet maintaining liquidity across multiple centralized exchanges (CEXs) is crucial for onboarding new investors and ensuring BAL is fairly priced at all times.
At present, 2.16Mn BAL are held on Binance, 320k BAL on OKX, and 45k BAL on Bitget, totalling $6.8 million in liquidity across CEXs. With a token trading volume of $3.8 million in the past 24 hours, 56% of reserves are used daily. By comparison, MakerDAO has $149 million in liquidity across CEXs, with MKR seeing a 24-hour volume of around $24.5 million, which translates to a 16% daily utilization rate and a more liquid market*.
In volatile market conditions, such liquidity can significantly impact order books across any and all CEXs. Improving liquidity for BAL and expanding its reach across different markets is a highly advantageous proposition.
*Displayed numbers are approximations at the time of writing.