Ether's liquidity shrank vs bitcoin in Q3. XRP bids piled up
Summary
Ether gained 70% in the third quarter, beating bitcoin’s 42% rise, but its market liquidity weakened. CoinGecko found ETH’s median daily market depth was 35%–45% of bitcoin’s from July 6 to Sept. 30, down from at least 60% a year earlier. ETH still had about $13 million–$14 million in orders within 0.15% of its price, and CoinGecko said it remained fairly liquid. Solana’s depth within 2% of its price fell from roughly $28 million per side last year to $20 million. XRP’s depth stayed near $30 million, with more bids than asks; its lower trading volume compared with SOL helps explain its thinner order book.
