Binance Dominates Crypto Liquidity as Ethereum Falls Behind

Liquidity has become an essential metric in the crypto space, influencing trading ease and volatility. In its recent report on 2026 Crypto Liquidity on CEXes, CoinGecko examined liquidity across top centralized exchanges, focusing on price ranges to demonstrate how much capital is required to move markets.

The study revealed that Binance maintains its position as the most liquid platform for Bitcoin (BTC), holding approximately $7M-$8M in depth on both sides within a ±$100 range. In contrast, Ethereum's (ETH) liquidity has dropped from 2025 levels, making up only around 35-45% of BTC's liquidity at the same range.

XRP's liquidity is widely distributed among eight exchanges at the ±2% range, with Coinbase showing a higher proportion of bidders than sellers. SOL's liquidity shrunk by over 28.5% since 2025, while DOGE remains shallow across the ±2% range.