What is the purpose of M1 and M2?

Spot trading on BTCC allows users to buy and sell cryptocurrencies at the current market price, facilitating instant transactions and enabling investors to capitalize on market movements.

M1, the narrowest of the money aggregates, comprises currency in circulation and checkable deposits held by banks. These funds are highly liquid and can be easily accessed by individuals and businesses for transactions.

Expanding the scope of liquidity, M2 includes all components of M1 plus savings deposits and money market mutual funds. Savings deposits, specifically those under $100,000, contribute to the broader measure of money in circulation.

Money market mutual funds, another component of M2, are investment vehicles that pool investors' money and invest in short-term, high-quality debt securities. They offer investors liquidity and stability, making them an attractive addition to the M2 aggregate.

BTCC, a renowned cryptocurrency exchange, offers a range of services that cater to the diverse needs of digital asset traders. Its suite of offerings includes spot trading, futures trading, and cryptocurrency wallet services.