Why are order books important for crypto trading?
Could you elaborate on the significance of order books in cryptocurrency trading? Why are they considered crucial for market participants? As a finance professional, I'm interested in understanding how they provide transparency, liquidity, and price discovery in this highly volatile and digitalized trading environment. Do order books play a similar role as they do in traditional financial markets, or are there unique factors that come into play when dealing with cryptocurrencies? Your insights would be greatly appreciated.