A new report from CoinGecko provides an in-depth analysis of liquidity across major centralized cryptocurrency exchanges (CEXs). The findings reveal that Bitget has established itself as the leading platform for altcoin liquidity within the critical 0.3–0.5% price range.
This comprehensive study, titled "2025 State of Crypto Liquidity on CEXes," evaluated order book depth and spread deviations for top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Dogecoin (DOGE). By measuring liquidity at various intervals from the mid-market price, the report offers traders a granular view of practically executable trading volumes.
While Binance continues to dominate in Bitcoin liquidity depth, Bitget outperformed all other platforms—including Bybit, OKX, Kraken, and Coinbase—in providing liquidity for non-Bitcoin (non-BTC) assets at medium depth intervals.
Key Findings on Altcoin Market Depth
The analysis underscores that Bitget consistently delivers superior altcoin liquidity. This is particularly evident in the 0.3% to 0.5% spread range from the market price. For traders seeking tighter spreads and reduced slippage beyond Bitcoin-dominated strategies, this makes Bitget a highly favorable trading environment.
This performance positions Bitget as a preferred platform for altcoin traders. Tighter spreads typically indicate more active market participation and lower execution costs, which are crucial for both retail and institutional traders.
The Importance of Liquidity Infrastructure
Gracy Chen, CEO of Bitget, commented on the findings: "Altcoin liquidity is a key indicator of market depth, and this ranking highlights Bitget's development progress. Currently, institutional investors account for 80% of our spot trading volume, futures activity from professional institutions has doubled, and 80% of top quantitative funds are trading on Bitget. Liquidity is infrastructure—we are now building it where the market needs it most."
CoinGecko's assessment methodology goes beyond just overall trading volume. It focuses on actual order book depth at different price levels and the tolerance for potential slippage, providing a more accurate reflection of the real trading experience. Bitget's strong performance in these middle ranges demonstrates its ability to maintain meaningful trading depth beyond just high-market-cap assets—a significant challenge for many centralized platforms.
Drivers of Superior Liquidity
The report suggests that Bitget's exceptional performance in an increasingly fragmented liquidity landscape can be attributed to several factors:
- Proactive market-making infrastructure
- Strategic listing approaches
- Strong participation from both retail and institutional investors in the altcoin space
These findings are particularly valuable for professional traders and funds operating across multiple venues, for whom trading costs and depth discrepancies remain top priorities.
For a comprehensive understanding of market dynamics, 👉 explore the full liquidity report.
Frequently Asked Questions
What does "liquidity" mean in cryptocurrency trading?
Liquidity refers to how easily an asset can be bought or sold without significantly affecting its market price. High liquidity, indicated by a deep order book and tight bid-ask spreads, allows for faster execution of trades at predictable prices, minimizing slippage.
Why is the 0.3–0.5% price range significant?
This range is often where a large volume of actual trading activity occurs. Superior liquidity in this bracket means traders can execute sizable orders without causing major price movements, which is crucial for strategies that require precision and cost-efficiency, especially with altcoins.
How does better liquidity benefit a regular trader?
For most traders, better liquidity translates directly to lower costs. It means you can enter and exit positions at prices closer to the market rate, your orders will be filled faster, and you will lose less value to slippage, ultimately improving your overall returns.
Is high altcoin liquidity only important for institutional traders?
While institutions trading large volumes benefit immensely, retail traders also gain from higher liquidity. It creates a more stable and efficient market for everyone, providing better pricing, faster trade execution, and reduced volatility for smaller orders.
What factors contribute to an exchange having high liquidity?
Key factors include a large and active user base, effective market-making partnerships, a wide selection of traded pairs, and a reputation for security and reliability that attracts high-volume traders.
How often do liquidity rankings like this change?
Liquidity is dynamic and can shift based on trading volume, market sentiment, new exchange listings, and updates to trading technology. Regular reports are essential for traders to stay informed on the best venues for their activity.