#交易流动性 Number of Market Participants: The more participants there are, the higher the liquidity usually is, as more buy and sell orders can be matched quickly.

Exchange Efficiency: An efficient trading platform can provide fast trade confirmations and low fees, attracting more users to participate in trading.

Market Sentiment: During a bull market, investors have a strong willingness to trade, and liquidity is usually good; however, during a bear market or times of high market volatility, liquidity may decrease.