Bitget Emerges as Top Choice for altcoin Transactions Among Crypto Whales

Bitget Takes the Lead in altcoin Liquidity

Recent findings from CoinGecko reveal that Bitget has established itself as the premier exchange for altcoin transactions, surpassing major players like Binance and Coinbase. This shift highlights Bitget’s growing influence in the cryptocurrency market.

Dominance in Key Cryptocurrencies

CoinGecko’s analysis indicates that Bitget excels in liquidity for several prominent altcoins, including Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), and XRP. This performance positions Bitget as a leader in the altcoin sector, showcasing its robust trading infrastructure.

Binance Retains Bitcoin Liquidity Leadership

While Bitget has made significant strides in altcoin liquidity, Binance continues to hold the top spot for Bitcoin transactions across various market depths. The research notes that Binance offers the highest liquidity for Bitcoin, while Bitget leads in altcoin liquidity, with ranges between 0.3% and 0.5%.

Insights from Bitget’s CEO

Gracy Chen, CEO of Bitget, shared insights regarding the exchange’s recent achievements in a conversation with Coindesk. She emphasized that the platform’s advancements in infrastructure have been pivotal to its success.

“The liquidity of altcoins reflects market depth, and this ranking illustrates the progress Bitget has made. Currently, institutional trading accounts for 80% of our spot volume, and our futures activity from professional firms has doubled, with 80% of top funds now trading on Bitget.”

Performance Metrics for XRP and Solana

In the case of XRP, Bitget demonstrated a depth range of 0.3%, while Binance and Coinbase showed a depth level of 1%. A similar trend was observed with Solana, where Bitget captured a 32% market share in the 0.6% liquidity range.

Competitive Landscape for Ethereum and Dogecoin

The report also indicates that Bitget outperformed other exchanges by narrow margins for both Ethereum and Dogecoin. However, Binance maintained its dominance in Bitcoin liquidity, reinforcing its established position in the market.

Conclusion

As the cryptocurrency landscape evolves, Bitget’s rise in altcoin liquidity reflects a significant shift in trading preferences among institutional investors. This trend underscores the importance of liquidity in driving trading efficiency and market stability.

This article is for informational purposes only and should not be considered investment advice.

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Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making any investment decisions.