Increasing MAID’s volume on Bittrex is necessary and would be helpful, but would not be enough to make a meaningful difference. Without adding additional exchanges it’s unlikely that volume for MAID on Bittrex could ever increase to $11M a day.
Cardano’s volume on Bittrex (and on any one exchange) is tied to the total market volume for ADA (i.e. the fact that ADA is on many exchanges). ADA is listed on 50 exchanges and has 100 trading pairs. This translates to total market volume of ~$4B. A single person with a substantial position in crypto takes into account the total market volume because s/he does and wants the ability to trade an asset across multiple exchanges. Multiple exchanges mitigate risk (e.g. absorbing shocks to supply and demand, minimizing the impact of manipulation or delisting, etc.). The optionality multiple exchanges provide produces the market stability that gives people the confidence to invest/trade.
A responsible investor or trader would not take a $600K position (~10 BTC) in an asset if they didn’t think they could easily get in and out of that market. I’d want to regularly see billions in daily volume before I’d be willing to take such a position.
As much as people may like an idea, they won’t invest en masse if the economics don’t make sense, i.e. if it will be hard to realize any return on investment. Right now, the economics for MAID don’t really inspire confidence because the market is too shallow and there’s not enough liquidity or exchange access. People will not (in large numbers) take this project seriously until that changes. Unfortunately, exchanges are wary to take the risk of listing MAID until they start to see more volume and liquidity.
We’re facing a chicken and the egg problem. How do we increase liquidity to get on more exchanges if you need to be on more exchanges to see an increase in liquidity?
One solution would be for more people on this forum to actively trade. However, many of the people on the forum are “true believers”, not concerned about immediate ROI, not actually holders of a significant amount of MAID, unable to access the two exchanges that currently list MAID, &/or are unwilling to sell at current prices. All of these factors result in significant liquidity challenges.
Even if a significant number of people on this forum could be motivated to provide liquidity, it’s unlikely there are enough people here to make a meaningful difference. While some have returned, the number of active participants on this forum has declined over the years. We need more people to join the fold. Much like getting listed on more exchanges, we face another chicken and the egg problem here too.
Another solution to the liquidity challenge is market-making. Many projects (like Blockstack for example) enlist market-makers to help provide liquidity for a short amount of time until the system can sustain itself. This may be necessary to revitalize the market for MAID and give exchanges and those who could wrap MAID as an ERC20 token the confidence to do so.