Conversation

Larry Cermak 🫡
@lawmaster
Traded volume is a shit metric for evaluating exchanges because it's trivially easy to fake. What actually matters for traders is liquidity. Order book depth is a good enough proxy of that. Even depth can be faked as well, it's harder and more expensive.
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Larry Cermak 🫡
@lawmaster
If we consider 1% depth, Binance has the most liquid pair with combined orders of $6.54 million; followed by Coinbase ($5.81M), Bitfinex ($5.47M), Kraken ($4.99M) and Bitstamp ($4.39M).
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Larry Cermak 🫡
@lawmaster
When looking at 10% depth, Bitfinex has, by far, the most liquid pair with combined orders of $47.5 million; followed by Bitstamp ($30.8M), Coinbase ($28.5M) and Kraken ($24.3M).
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Larry Cermak 🫡
@lawmaster
All in all, Bitfinex, Coinbase, Kraken, Bitstamp, and Binance have, by far, the deepest liquidity of Bitcoin trading pairs.
@coingecko
and
@coinpaprika
are two data providers that show order book depth on top of traded volume. It's one of my favorite metrics
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