CCData: The liquidity of ETH trading pairs on CEX has significantly decreased since June
According to data tracked by CCData, since the debut of 9 Ethereum spot ETFs on July 23rd, the order book liquidity of ETH has been declining. Since the launch of the ETFs, the average 5% market depth for ETH trading pairs on U.S. centralized exchanges has dropped by 20%, down to about $14 million. On offshore centralized exchanges, this figure fell by 19%, down to approximately $10 million. In other words, it is now easier for spot prices to rise or fall by 5%, indicating reduced liquidity and increased sensitivity to large orders. Jacob Joseph, a research analyst at CCData stated that although the liquidity level of ETH trading pairs on centralized exchanges is still higher than at the beginning of the year, it has fallen nearly 45% since peaking in June. This could be due to poor market conditions and seasonal effects during summer which usually come with decreased trading activity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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