kaal:claim:4033886-035

Secondary trade pricing from exchanges is a legitimate market approach input for digital assets only when liquidity is high enough to rely on those prices; where liquidity is lacking or unreliable, a discount for lack of liquidity is required.

Source quote, verbatim

Secondary trade pricing (as seen in exchanges) are relevant when liquidity is high enough to rely on these prices.131

From

Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022), IV.2.a Market Approach, p. 32
https://ssrn.com/abstract=4033886 · source PDF

Cite as

Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

Holds when

market approach applied to tokens
liquidity and depth differ between token to token and token to fiat trades

Classification

conditionsupport: argueddefieconomicstokenomics

Verify

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Attestation record: colloquium/attestations/727d2d8dc37a2bb0...json
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