November 6, 2019, 6:08AM EST
• 2 min read

Evaluating exchanges based on the liquidity of its Bitcoin pairs

Quick Take

  • Evaluating exchanges by order book depth is far superior to looking at the trading volume
  • At 1% depth, Binance has the most liquid BTC pair with combined orders; followed by Coinbase, Bitfinex, Kraken, and Bitstamp
  • At 10% depth, Bitfinex has, by far, the most liquid pair; followed by Bitstamp, Coinbase, and Kraken
  • After evaluating 15 largest exchanges, it’s clear that Bitfinex, Coinbase, Kraken, Bitstamp, and Binance have the most liquid BTC pairs

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