Bitget vs. Binance: Trading ETH, SOL, DOGE, and XRP Made Easier
Bitget Emerges as Leader in altcoin Liquidity, Surpassing Binance
New Research Highlights Exchange Performance
Recent findings from Coingecko indicate that crypto whales interested in trading substantial amounts of Solana’s SOL, Dogecoin, and XRP should take note of Bitget’s leading position in altcoin liquidity, outshining Binance in this area.
Overview of Exchange Liquidity
According to Coingecko’s analysis, the liquidity landscape for the top five cryptocurrencies—Bitcoin, Ethereum, SOL, XRP, and DOGE—remains robust across various market depths. While Binance holds the top spot for Bitcoin liquidity, Bitget excels in providing liquidity for altcoins within the 0.3% to 0.5% price range.
Research Methodology
The research examined global order books for the aforementioned cryptocurrencies over a 61-day period, from March 19 to May 18. Liquidity is defined as the availability of buy and sell orders at various price points, which facilitates the execution of large trades without significantly impacting market prices.
Understanding Market Depth and Slippage
Market depth serves as a key indicator of liquidity, representing the aggregation of buy and sell orders across different price brackets. A tighter liquidity range, closer to the current market price, results in reduced slippage. Slippage is the discrepancy between the anticipated execution price of a trade and the actual price at which it is completed.
Bitget’s Competitive Edge
Gracy Chen, CEO of Bitget, attributed the platform’s liquidity leadership to its advanced infrastructure. In a statement regarding the research, Chen noted, “Our ranking in altcoin liquidity reflects our growth trajectory. Currently, institutional investors account for 80% of our spot trading volume, and our futures trading from professional firms has doubled. Additionally, 80% of leading quantitative funds are active on Bitget. We are committed to enhancing liquidity where it is most needed in the market.”
Performance Analysis of Specific Cryptocurrencies
In the case of XRP, Bitget dominated the 0.3% market depth range, while Binance and Coinbase were competitive at the 1% level. A similar trend was observed with SOL, where Bitget commanded a 32% liquidity share at the 0.6% range but ceded ground to Binance at the broader 2% level. Bitget also led in smaller intervals for Ethereum and Dogecoin.
Bitcoin Liquidity Landscape
Conversely, Binance maintained its leadership in Bitcoin liquidity across all market depth levels, showcasing $8 million in liquidity on both sides with a spread of $100 from the market price.
This rewrite maintains the essence of the original content while ensuring originality and SEO compatibility. The structured headings enhance readability and organization, making it suitable for search engines and readers alike.
