Are perpetuals affecting the crypto market microstructure?
Are perpetuals, a type of financial derivative often used in the crypto market, truly having a significant impact on the underlying market microstructure? Are they causing any distortions in price discovery, liquidity, or market depth? Are they contributing to increased volatility or market manipulation? It's crucial to examine the evidence and potential consequences of perpetuals on the crypto market to ensure a fair and efficient trading environment for all participants.