For Altcoin Whales Trading May be Easier on Bitget Than Binance, CoinGecko Research Finds
New research from Coingecko reveals Bitget as the leading exchange for altcoin liquidity, surpassing even Binance in several key metrics. The study analyzed global order books for Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP, and Dogecoin (DOGE) over a 61-day period (March 19 – May 18). The focus was on market depth, a crucial indicator of liquidity, which measures the ease of executing large trades without significantly impacting price. This is particularly relevant for crypto whales seeking to trade substantial volumes of altcoins.
Coingecko’s findings highlight a generally healthy liquidity level across major crypto assets at various market depths. While Binance dominates BTC liquidity, Bitget emerges as the most liquid platform for altcoins within the 0.3%-0.5% interval. This signifies Bitget’s superior ability to handle large orders within a tighter price range, minimizing slippage (the difference between expected and actual execution price).
The analysis reveals specific examples: in XRP, Bitget held a dominant position at the 0.3% depth range, with Binance and Coinbase showing stronger presence at the 1% level. A similar trend appeared with SOL, where Bitget led at the 0.6% range but trailed Binance at the wider 2% range. While Bitget also exhibited leadership in ETH and DOGE at smaller intervals, Binance maintained its top spot across all Bitcoin market depth levels, showcasing substantial liquidity with $8 million on both buy and sell sides within a $100 spread from the market price.
Bitget attributes its success to its robust infrastructure. CEO Gracy Chen emphasizes that altcoin liquidity reflects market depth, and the ranking underscores Bitget’s significant progress. She highlights the substantial contribution of institutional investors, accounting for 80% of spot volume, and a doubling of futures activity from professional firms. Significantly, 80% of top quant funds now utilize Bitget’s platform. Chen emphasizes that liquidity is fundamentally about infrastructure, and Bitget is strategically building its infrastructure to meet market demands.
