In its latest research, CoinGecko announced the exchanges most preferred by whales for Bitcoin (BTC) and altcoin transactions.
Accordingly, Bitget, one of the leading cryptocurrency exchanges, has recently emerged as the best platform for altcoins, leaving Binance and Coinbase behind.
According to Coingecko's research, Bitget has become the leader in altcoin liquidity, leaving Binance behind.
While analyzing the liquidity of the largest cryptocurrencies, Coingecko determined that Bitget dominates for Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), and XRP.
While Bitget led the way for top altcoins, Binance remained the top platform for Bitcoin liquidity across all market depths.
“Binance offered the most liquidity for Bitcoin, while Bitget was the most liquid platform for altcoins, with a range of 0.3%-0.5%.”
Speaking to Coindesk, Bitget CEO Gracy Chen commented on the Coingecko research and said that Bitget's leadership stems from its infrastructure.
“Altcoin liquidity is a measure of market depth, and this ranking shows how far Bitget has come.
Today, institutions drive 80% of our spot volume, futures activity from professional firms has doubled, and 80% of top funds trade on Bitget.”
In XRP, Bitget dominated with a depth of 0.3% (with a variance of $0.006), while Binance and Coinbase lagged behind with a depth of 1% (with a variance of $0.006).
A similar situation was true at Solana, while Bitget led other major exchanges with a 32% share in the 0.6% range in liquidity for SOL.
According to the report, Bitget also led other exchanges by small margins in ETH and DOGE, but Binance maintained its leading position for Bitcoin.
TradingView is a chart-based platform for individuals and investors interested in cryptocurrencies, particularly BTC/USD. This platform provides a platform for analyzing markets, closely monitoring current financial news, and exchanging ideas. Cryptocurrency users can conduct more detailed market research with TradingView's advanced tools and diverse data options. In addition to detailed symbol charts, they also have access to a wide range of data, particularly on how to use the economic calendar. The platform also aims to support users by offering more comprehensive data sets tailored to their diverse strategies.
*This is not investment advice.