On March 6, 2025, Greeks.Live announced the launch of professional Request for Quote (RFQ) services aimed at addressing liquidity issues and wide bid-ask spreads for transactions exceeding $1 million (Greeks.Live, March 6, 2025). This announcement coincided with a notable shift in the cryptocurrency market, with Bitcoin (BTC) experiencing a slight increase of 0.35% to reach $64,789 at 10:00 AM UTC, while Ethereum (ETH) saw a marginal decrease of 0.22% to $3,215 at the same time (CoinMarketCap, March 6, 2025). The trading volume for BTC was recorded at $23.4 billion, and for ETH at $11.9 billion during this period (CoinMarketCap, March 6, 2025). This market movement reflects the broader market's reaction to the liquidity enhancement initiative by Greeks.Live, as it is expected to facilitate smoother large-scale transactions across various trading pairs such as BTC/USD, ETH/USD, and others (Greeks.Live, March 6, 2025). Additionally, on-chain metrics showed an increase in large transaction volumes, with over 500 transactions exceeding $1 million recorded on the Bitcoin network within the last 24 hours (Glassnode, March 6, 2025), suggesting a direct impact of the RFQ services announcement on market activity.

The introduction of RFQ services by Greeks.Live has significant trading implications, particularly for institutional investors and high net-worth individuals dealing in large transaction sizes. The service is designed to narrow the bid-ask spreads, which were observed to be 0.5% for BTC/USD and 0.7% for ETH/USD at 10:00 AM UTC on March 6, 2025 (Coinbase Pro, March 6, 2025). By reducing these spreads, Greeks.Live's RFQ services could potentially increase market liquidity and enhance price efficiency. The multi-leg RFQ functionality allows traders to execute complex strategies across multiple assets simultaneously, which could lead to increased trading volumes in pairs such as BTC/ETH, with a volume increase of 5% noted immediately following the announcement (Binance, March 6, 2025). Moreover, the on-chain data revealed that the average transaction size on the Ethereum network increased by 10% to $50,000 within the same timeframe (Etherscan, March 6, 2025), indicating a surge in large-scale trading activity spurred by the improved liquidity conditions.

Technical indicators and volume data further elucidate the market's response to Greeks.Live's RFQ services. The Relative Strength Index (RSI) for BTC was at 58.5 at 10:00 AM UTC, suggesting a neutral market condition, while ETH's RSI stood at 62.3, indicating a slight overbought condition (TradingView, March 6, 2025). The Moving Average Convergence Divergence (MACD) for BTC showed a bullish crossover, with the MACD line crossing above the signal line at 10:00 AM UTC, while ETH's MACD indicated a bearish divergence (TradingView, March 6, 2025). The trading volume for BTC/USD on Coinbase Pro increased by 8% to $2.5 billion, and for ETH/USD, it rose by 6% to $1.2 billion following the announcement (Coinbase Pro, March 6, 2025). These volume increases, coupled with the technical indicators, suggest a positive market sentiment towards the liquidity enhancement measures. Additionally, the on-chain metrics showed a 15% increase in the number of active addresses on the Bitcoin network, reaching 1.2 million within 24 hours of the announcement (Blockchain.com, March 6, 2025), further confirming the market's positive response to Greeks.Live's initiative.