The large spread is the only way that market makers can make money providing liquidity, given that Steem is a highly inflationary coin and they're taking on the dilution risk, and it is not intended as a coin for commerce, so regular market participants don't contribute to the liquidity as they would in Bitcoin or similar.
The large spread is the only way that market makers can make money providing liquidity, given that Steem is a highly inflationary coin and they're taking on the dilution risk, and it is not intended as a coin for commerce, so regular market participants don't contribute to the liquidity as they would in Bitcoin or similar.