#交易对 #交易对 #交易对 trading pairs are the core mechanism of the cryptocurrency market, referring to the pairing trading relationship between two assets (such as BTC/USDT), divided into primary trading pairs (such as BTC/USDT) and secondary trading pairs (such as ETH/BTC). Its operation is based on the matching of buy and sell orders: the buy order specifies the purchase price and quantity, while the sell order is the opposite, and the exchange facilitates the transaction between both parties. Liquidity is a key indicator; high liquidity trading pairs (such as mainstream currencies) have small spreads and quick transactions, while low liquidity trading pairs may face slippage risks.

In traditional financial markets, trading pairs are also used for pair trading strategies, arbitraging based on the price differences of correlated assets. Whether in the cryptocurrency space or traditional markets, the trading pair mechanism relies on supply and demand dynamics and real-time price discovery, and investors need to consider liquidity, fees, and security factors when selecting trading pairs.