- Kaiko’s Conor Ryder reveals the top 30 cryptos by volume and depth.
- Factoring in depth can give a clearer picture of an asset’s liquidity.
- The top 5 tokens by average daily volume are Bitcoin, Ethereum, Dogecoin, Litecoin, and Ripple.
Conor Ryder, a researcher at Kaiko Data, has presented a new liquidity ranking methodology that ranks the top 30 coins by volume and depth. The model, slated to be unveiled on Thursday, is purportedly intended to give traders and investors vital insights into the most liquid assets in the market. He says the ranking approach focuses on volume and depth and wants to provide a more holistic liquidity perspective than previous volume-based rankings.
According to familiar sources, while volume alone can be a misleading liquidity indicator, factoring in depth can give a clearer picture of an asset’s true liquidity. Additionally, the top 30 tokens ranked by the model will be exciting to traders and investors looking to optimize their trading strategies and minimize slippage.
According to Conor Ryder’s liquidity ranking model, the top 5 tokens by average daily volume among the top 30 are Bitcoin, Ethereum, Dogecoin, Litecoin, and Ripple. Bitcoin and Ethereum lead the pack with over $2 billion daily volume, highlighting their dominance in the crypto market. Meanwhile, Dogecoin’s recent surge in popularity is reflected in its position among the most liquid assets.
The quantity of an asset that may be purchased or sold without impacting its price, defined as market depth, was considered by the ranking model. In this regard, the leading tokens were Bitcoin, Ethereum, Solana, Polygon, and Ripple.
According to experts, this indicates their robustness and resiliency to large orders. Notably, Bitcoin and Ethereum lead the pack again, with over $50 million in 1% market depth, underscoring their position as the most liquid and intensely traded assets in the crypto market.