@milburn
Token liquidity on DEXs and CEXs reflects accessibility and market robustness. Active decentralized trading demonstrates community engagement, whereas concentrated centralized liquidity may increase manipulation risk. Evaluating volume, order book depth, and trading patterns informs liquidity quality. Balanced multi-platform liquidity reduces volatility, improves price discovery, and ensures efficient trading. Projects that maintain diverse liquidity channels foster confidence, adoption, and long-term market stability.