BlockBeats news, on October 5, a CoinGecko report showed that ETH rose 70% in the third quarter, outperforming BTC which rose 42% in the same period, but its market liquidity has declined. Between July 6 and September 30, ETH’s median daily average market depth was only 35% to 45% of BTC’s, compared with at least 60% during the same period last year.
ETH buy and sell order depth is approximately $13 million to $14 million within 0.15% of the market price. Market depth measures the size of pending orders near the current price. The lower the depth, the easier it is for large orders to drive price changes. Despite the contraction in liquidity, CoinGecko said ETH remains relatively easy to trade, with market depth exceeding $1 million on both buy and sell sides on most trading platforms.
SOL's liquidity has also declined, with market depth on one side within 2% of its price range falling to about $20 million, down from about $28 million last year. The total market depth of XRP has stabilized at approximately US$30 million, of which buy orders are approximately US$18 million and sell orders are approximately US$14 million. While XRP’s market capitalization is approximately 40% higher than SOL’s, its market depth is lower as SOL’s average daily trading volume is still approximately 25% higher.