The liquidity of #交易流动性 transactions refers to the ability of assets to be quickly traded at reasonable prices in the market. In a high liquidity market, there are many buyers and sellers, order matching efficiency is high, and large transactions have little price impact, such as trading in large-cap U.S. stocks; conversely, in a low liquidity market, significant price fluctuations can occur, like some niche cryptocurrencies. It is influenced by the number of market participants, trading activity, and the degree of asset standardization, and is an important indicator of market health and trading costs, directly affecting investors' timing and returns.