Ah, I just paid another tuition fee. One slip and I set the slippage too wide—ended up directly handing money to the market maker. I looked back at the order book: that depth was so thin it was like paper. With my order, I punched right through the mid price by almost one percentage point. To put it plainly, with liquidity like this, big orders have to be split and entered piece by piece; shoving everything in at once just makes you the bag holder.

Thinking back now, before placing the trade I was staring at the K-line with a dazed look, and I completely failed to check the thickness of the limit order book. I also didn’t get the rhythm right—I was just rushing. Anyway, this kind of lesson isn’t the first time, but every time it hurts after taking the loss, I finally remember.

Speaking of which, about that public chain upgrade recently—everyone’s been speculating whether ecosystem projects will switch chains to take advantage. I’d guess it’s mostly talk with little action. If they truly migrate, the cost and the reshaping of liquidity depth can’t be solved with mere mouth. A lot of projects just say it, but once liquidity actually moves, the first ones who won’t agree are the market makers and the nodes. Forget it, for now I’ll leave it at that—I’m going to keep watching the market.