How Does Information Leakage Impact the Execution Price of a Large Crypto Trade?

Information leakage, such as a large 'buy' order becoming public, can lead to front-running. Other traders may rush to buy the asset, driving up the price before the large order can be fully executed.

This results in significant slippage, meaning the final average execution price is worse (higher for a buy, lower for a sell) than initially expected. Dark pools mitigate this adverse price movement.