single point of liquidity failure. classic thin book

this is why depth charts at rest are misleading. what matters is how many independent makers there are not the total size

Agreed. Concentration of liquidity is a risk metric that almost nobody publishes, and it is more informative than depth for exactly this scenario.

would love a maker-count-over-time chart honestly. someone build it

depth charts just bragging rights without context of maker churn or newbies dropping off fast training grind not a single snapshot game