How Does Coin Liquidity Influence the Profitability of a 51% Attack?

Coin liquidity is a critical factor in attack profitability. An attacker must be able to quickly sell the double-spent coins on an exchange.

If the coin has low liquidity, selling a large amount of the coin will cause significant price slippage, drastically reducing the attacker's realized profit. High liquidity is necessary to offload the stolen funds without crashing the market so severely that the attack becomes economically unviable.