Bitcoin Leads Crypto Liquidity Rankings in 2026

Bitcoin (BTC) continued to dominate the liquidity rankings among major cryptocurrencies in 2026, with its liquidity across centralized exchanges surging nearly 50%. This significant increase widened its lead over Ethereum (ETH) and Solana (SOL), according to a CoinGecko report published on Tuesday. The study analyzed eight major centralized exchanges and found that Bitcoin had a median cumulative depth of roughly $29 million on the buy side and $37 million on the sell side. Binance remained the deepest venue, accounting for 25.3% of total BTC liquidity across the exchanges studied.

In contrast, Ethereum's liquidity shrank, with median ETH liquidity standing at roughly $13 million to $14 million within a 0.15% range. This was only 35% to 45% of Bitcoin’s depth, a notable decline from 2025 when ETH order book liquidity was at least 60% of Bitcoin’s within a comparable range. Solana experienced an even sharper decline, with single-sided liquidity dropping more than 28.5%, from roughly $28 million in 2025 to about $20 million this year.

XRP (XRP) showed a unique trend, with its order book becoming noticeably skewed toward buyers. Across the exchanges, XRP had nearly $18 million in bids compared with $14 million in asks. Despite XRP’s larger market capitalization, Solana still maintained deeper cumulative liquidity within the 2% range, supported by roughly 25% higher average daily trading volume.

Dogecoin (DOGE) remained the least liquid of the five cryptocurrencies studied, recording only around $9 million to $12 million in single-sided liquidity within 2%. The shallow liquidity of DOGE leaves it more vulnerable to slippage and larger price swings from sizable trades, with only a handful of exchanges providing more than $1 million in meaningful market depth.