How Does the Speed of Information Dissemination Affect the Semi-Strong Form Efficiency in Crypto?
Semi-Strong efficiency requires that all public information is instantly reflected in the asset price. In crypto, information dissemination is often fragmented across various social media, news outlets, and blockchain explorers.
Slower or uneven information flow means some traders can act on public news before others, leading to temporary mispricing. Faster information processing by HFT bots can increase the market's efficiency.
Delays create short-lived arbitrage opportunities.