币界网报道：Arthur Azizov, founder of B2 Ventures, pointed out that although the total market value of the cryptocurrency market has reached 2.49 trillion US dollars (expected to reach 5.73 trillion in 2033), its liquidity structure has serious hidden dangers. The order books of centralized exchanges will shrink rapidly when the market fluctuates, especially for tokens outside the top 20 in market value, where liquidity is scattered across different exchanges and there is no unified pricing mechanism. During the market crash in 2022, mainstream tokens also experienced significant slippage on top exchanges. The recent flash crash of Mantra's OM token once again proved that market depth can disappear in an instant under pressure. Experts believe that the solution needs to start from the protocol layer, and improve the fragmentation status through native cross-chain bridging and unified liquidity routing technology (some L1s have adopted it). Currently, 70%-90% of stablecoin trading volume is completed by automated trading, and technical bottlenecks are gradually eliminated.