Data: Binance leads in BTC liquidity, Bitget performs best in the Altcoin market

Recently, CoinGecko released the "2025 Centralized Exchange Crypto Liquidity Status Report," comparing the order book depth of mainstream CEXs such as Binance, Bitget, Bybit, OKX, Kraken, and Coinbase, and comprehensively analyzing the liquidity performance of assets like BTC, ETH, XRP, SOL, and DOGE across different spread ranges. The report shows that Bitget performs best in the altcoin liquidity range of 0.3% to 0.5%, providing a high-quality trading environment for altcoin investors.

The report also points out that in terms of Bitcoin trading, Binance maintains a leading position with approximately 32% market liquidity. Within the ±$100 spread range, both the buy and sell order book depths reach about $8 million, followed by Bitget and OKX with $4.6 million and $3.7 million, respectively. For Ethereum, within the ±$15 (approximately 1%) spread range, Bitget becomes the platform with the strongest liquidity, but Binance still dominates in larger spread ranges.

In the liquidity distribution of XRP, Bitget, Binance, and Coinbase account for about 67% of the market liquidity. The liquidity of DOGE is even more dispersed; within the ±$0.001 (approximately ±0.5%) spread range, the unilateral depths of Binance, Bitget, OKX, and Coinbase are roughly similar, ranging between $1 million and $1.7 million.

It is noteworthy that, despite the general market perception that liquidity is lower on weekends and prices are more volatile, the data shows the opposite trend. Taking Binance as an example, its average depth on weekdays is $6 million to $7 million, while on weekends it often rises to $8 million to $10 million. Meanwhile, several exchanges, including Bitget and OKX, also exhibit stronger liquidity performance on weekends, with order book depths at various times matching those of Binance, indicating that weekends are not a period of trading weakness, but rather an important window for liquidity recovery.