Bitget Surpasses Binance in Altcoin Liquidity for Large Trades
Research by Coingecko indicates that Bitget leads in altcoin liquidity, surpassing Binance for SOL, DOGE, and XRP trading. Key points include:
- Bitget shows strong liquidity for altcoins within the 0.3%-0.5% range.
- Binance offers the most liquidity for BTC across various market depths.
- The study analyzed order books for BTC, ETH, SOL, XRP, and DOGE from March 19 to May 18.
- Liquidity is measured by market depth, reflecting the volume of buy and sell orders at different price levels.
- Tighter liquidity indicates lower slippage, improving trade execution accuracy.
- Gracy Chen, CEO of Bitget, noted that institutional traders make up 80% of their spot volume.
- In XRP, Bitget dominated at the 0.3% depth, while Binance and Coinbase were competitive at the 1% level.
- For SOL, Bitget held a 32% liquidity share at the 0.6% range but fell behind Binance at the 2% level.
- Binance maintained leadership in BTC liquidity across all market depths, with $8 million on both sides at a $100 spread.