Kaiko: Stablecoin Liquidity Concentrated on Binance, Driving Price Discovery
- —Binance BTC/USDT depth of $33–47 million is roughly 9x that of competitors
- —Binance ETH/USDT order books are about 5x deeper than the nearest rival
- —Binance daily USDT spot volume runs $5–10 billion versus under $2 billion elsewhere
- —Binance spreads held near 0.03%, while Bitstamp and Gemini topped 0.15% in August
Why it matters: Liquidity concentration on a single venue amplifies its sway over prices and leaves the market more fragile in sharp moves.
Source: TokenPost
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