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Bitfinex is the most liquid spot exchange based on order book depth

Quick Take

  • Bitfinex has the most liquid Bitcoin and Ethereum pairs based on the order book depth analysis
  • Other than Bitfinex, Coinbase, Kraken, Bitstamp, and Binance appear to have the deepest liquidity when it comes to BTC, ETH, and XRP
  • Bitcoin appears to be three times as liquid as Ethereum and more than 11 times as liquid as XRP
Evaluating exchanges by liquidity is far superior for traders rather than just looking at the trading volume. Higher liquidity gives traders tighter spreads and lower slippage.  Following the Bitwise study, it’s now widely known that the vast majority of the reported trading volume is not real. In May, The Block Research analyzed 48 cryptocurrency exchanges […]

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