I spent last summer algo trading crypto. This study doesn't surprise me at all. On one market, I consistently saw limit orders that would appear inside the spre

I spent last summer algo trading crypto. This study doesn't surprise me at all. On one market, I consistently saw limit orders that would appear inside the spread and then get instantly filled. If you do the math on how much you need to spend on exchange fees to get a coin to get coin to the top 100 in volume, it's only a few grand. That's assuming you don't own the exchange.