If volume is high, why are trades still slipping? Because real liquidity isn’t just numbers, it’s structure. In crypto markets today: Not all volume reflects actual depth Some liquidity vanishes when size hits the book Toxic flow distorts prices before trades even land True liquidity means: ✔️ Tight spreads that hold under pressure ✔️ Low slippage at size ✔️ Smart routing that avoids fake depth and dead books At Kronos, we model execution across venues, chains, and tokens; not just to be fast, but to be accurate. Because speed is common. Precision is alpha.