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Dwindling order book depth raises liquidity concerns in crypto markets Dwindling order book depth raises liquidity concerns in crypto markets James Van Straten · 2 years ago
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Dwindling order book depth raises liquidity concerns in crypto markets

Order book depth in the crypto market is even lower than during the collapse of FTX.

James Van Straten / @jvs_btc / Mar. 2, 2023 at 1:13 pm UTC

Definition

The quantity of bids and asks within 2% of the mid-price for USD(T) pairs.

Quick Take

  • Order-book depth in the crypto market for Bitcoin and Ethereum hits new lows, even lower than the levels post-FTX collapse.
  • A major concern is an illiquid market that can have ramifications both to the upside and downside.
  • According to Kaiko, the market depth is now the lowest since the Terra collapse, which has dropped over 50% since October for both Bitcoin and Ethereum.
Market Depth: (Source: Kaiko)
Market Depth: (Source: Kaiko)
Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

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