started · updated
Ethereum liquidity falls to below 50% of Bitcoin's level
An analysis of order book depth across eight major centralized exchanges reveals that Ethereum's liquidity has significantly declined relative to Bitcoin. According to data from CoinGecko, Ethereum's median market depth currently sits between 13 and 14 million USD within a 0.15% price range. This represents only 35% to 45% of Bitcoin's liquidity, a sharp drop from the previous year when Ethereum maintained at least 60% of Bitcoin's level.
While Ethereum's price saw a substantial increase of approximately 70% during the third quarter of 2026, its absolute liquidity has remained relatively flat. In contrast, Bitcoin's liquidity has grown, with median aggregate depths reaching 29 million USD on the buy side and 37 million USD on the sell side. This divergence has caused the liquidity ratio between the two assets to shrink.
Binance remains the leader in liquidity for both assets, while MEXC showed significantly lower depth at approximately 450,000 USD. The widening gap in liquidity suggests that Ethereum may face higher volatility and wider spreads during market fluctuations compared to Bitcoin.
Entities
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Bitcoin's median aggregate depth reached 29 million USD on the buy side and 37 million USD on the sell side. www.merca2.es
- [● 3 SOURCES] Ethereum's median market depth is between 13 and 14 million USD within a 0.15% price range. techxeber.az · www.merca2.es
- [● 3 SOURCES] Ethereum's liquidity represents only 35% to 45% of Bitcoin's liquidity. techxeber.az · www.merca2.es
- [○ 1 SOURCE] Binance leads liquidity for both Bitcoin and Ethereum. www.merca2.es
- [● 2 SOURCES] Ethereum's price increased by approximately 70% in the third quarter of 2026. techxeber.az · www.merca2.es
- [● 3 SOURCES] One year ago, Ethereum's liquidity was at least 60% of Bitcoin's level. techxeber.az · www.merca2.es