The presale for Snek concluded on April 28, distributing 50% of the total supply of 76,715,880,000 SNEK tokens to early supporters. Shortly after, the token became available to the public through a SundaeSwap listing, with an initial market cap of $275,000.
Market makers are entities with a contractual obligation to maintain a healthy level of liquidity on an exchange. They ensure there is enough depth in the order book by offering to buy or sell a call/put option contract at any given time. #BTC
There is another powerful force at work, a so-termed invisible hand of crypto options market makers, partly responsible for keeping prices rangebound, according to observers. #BTC