Who Have the Most Liquid BTC/USD Pair?

November 6, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The Block analyst Larry Cermak this Wednesday published the results of a study of the distribution of liquidity by pair with Bitcoin on various cryptocurrency exchanges.

He notes that trading volumes are an unconvincing metric when evaluating trading platforms, as they are easy to manipulate, while the depth of order books is of paramount importance to traders and requires more substantial resources for falsification.

In a combined consideration of applications for the purchase and sale in pairs of Bitcoin to the US dollar (BTC/USD) with a depth of 1% relative to the current rate, it turned out that Binance with applications for $6.54 million was the most liquid, followed by Coinbase ($5.81 million), Bitfinex ($5.47 million), Kraken ($4.99 million) and Bitstamp ($4.39 million).

Image source: The Block

If you delve into the books of applications by 10%, the situation will be somewhat different: Bitfinex with $47.5 million, Bitstamp with $30.8 million, Coinbase with $28.5 million and Kraken with $24.3 million.

Image source: The Block

“All in all, Bitfinex, Coinbase, Kraken, Bitstamp, and Binance have, by far, the deepest liquidity of Bitcoin trading pairs,” the analyst concludes.

Author: Marko Vidrih