I actually think $1.6M/day trading is low, even for day 1 launch.
Just to use ETH for example: current price atm is $122/ETH. This would only require 13,122 units of ETH to be traded through the matching engine, and this is only one asset for trade. If you factor in the other assets we could be looking at the following scenario:
ETH $122 * 10K =$1.2M
NEO $8 * 50K=$400K
USDC $1 * 20K=$20K
OMG $1.13 * 20K=$22.6K
ETC $4.11 * 20K=$82.2K
BAT $0.12 * 20K=$2.4K
ZRX $0.22 * 20K=$4.4K
This would result in $1.7M/24hr trading volume which I consider very poor, but focus on the number of units traded; they’re all minuscule in comparison to what’s actively traded on the markets today (non-wash traded exchanges). These numbers are somewhat arbitrary, but we need to focus on what will drive liquidity to the exchange:
- liquidity partners (Fabio said this in his BCB interview)/market makers
- other financial partners that will be using the matching engine (remittance, payments, some fiat gateways that require trade of XYZ token)
- professional trading tools that will require additional licensure
I think a key component will also be all the users here. There’s a wealth of talent, professional skill-set, and resources the community has at its disposal, and if we all chipped in to advance the Nash mission there will be great success. If you’re investing in NEX, just imagine it like an ESOP; that should give you all the motivation you need to help it grow.