Data: Binance leads BTC liquidity, and Bitget is the best performer in the Altcoin market

Recently, CoinGecko released the "2025 State of Crypto Liquidity on Centralized Exchange Report", which compares the order book depth of mainstream CEXs such as Binance, Bitget, Bybit, OKX, Kraken and Coinbase, and comprehensively analyzes the liquidity performance of assets such as BTC, ETH, XRP, SOL, DOGE and other assets in different spread ranges. According to the report, Bitget has the best liquidity performance in the altcoin spread range of 0.3% to 0.5%, providing a premium trading environment for Altcoin investors.

The report also noted that when it comes to Bitcoin trading, Binance maintains its lead with around 32% of the market's liquidity. ±Within the $100 spread, both buyers and sellers had an order book depth of about $8 million, followed by Bitget and OKX at $4.6 million and $3.7 million, respectively. On the Ethereum side, Bitget is the most liquid platform in the $±15 (about 1%) spread, but Binance still dominates in the wider spread range.

In XRP's liquidity distribution, Bitget, Binance, and Coinbase account for about 67% of the market's liquidity. DOGE's liquidity is more diversified, with Binance, Bitget, OKX, and Coinbase roughly close to $1 million to $1.7 million in the ±0.001 (about ±0.5%) spread range.

It is worth noting that although the market generally believes that there is less liquidity over the weekend and prices are more volatile, the data shows the opposite trend. In the case of Binance, the average depth on weekdays is $6 million to $7 million, which often ramps up to $8 million to $10 million on weekends. At the same time, a number of exchanges, including Bitget and OKX, also showed stronger liquidity performance over the weekend, with the order book depth at the same level as Binance for several periods, indicating that the weekend is not a period of trading weakness, but an important window for liquidity to recover.

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