The cryptocurrency trading pair #交易对 consists of a base asset (the traded object) and a quoted asset (the pricing unit). For example, in BTC/USDT, BTC is the base asset, and USDT is the quoted asset. I usually prefer stablecoin trading pairs (like BTC/USDT) because pricing in stablecoins allows for a clearer measurement of gains and losses, avoiding additional risks caused by fluctuations in the quoted currency. When choosing a trading pair, I primarily consider three factors: 1) liquidity depth (to avoid excessive slippage); 2) trading fees (some less popular trading pairs have higher fees); 3) volatility characteristics (for example, ETH/BTC is more suitable for assessing the relative strength of the two crypto assets). For instance, during the bank crisis in March 2023, I chose to operate in the BTC/USDC trading pair instead of BTC/USDT, as the temporary de-pegging of USDC led to an expanded price gap, providing a 1.2% arbitrage opportunity. While using the ETH/BTC trading pair, I successfully captured a bullish trend of ETH outperforming BTC by monitoring the break of key support levels in their exchange rate. $BNB
