Big coins and small coins are living in two different markets right now.
📌 What happened
CoinDesk Research found that bitcoin and ether order books are deeper than before last year's crash, while its altcoin basket has lost depth on every date measured since January 2025.
🔍 Why it matters
• Research lead Joshua de Vos expects that split to persist into next year
• Institutional money keeps flowing to the majors first
• Large-cap alts such as $SOL sit in between: deep enough for funds, but still exposed to ETF outflows
👀 What to watch
• Whether altcoin depth stabilizes as spot volume recovers from the August low
• Counterpoint: in token units, altcoin depth has eased only modestly, so part of the drop reflects lower prices rather than fleeing market makers
💬 Have thinner altcoin markets changed how you size your trades?
#Altcoins #Liquidity
📌 What happened
CoinDesk Research found that bitcoin and ether order books are deeper than before last year's crash, while its altcoin basket has lost depth on every date measured since January 2025.
🔍 Why it matters
• Research lead Joshua de Vos expects that split to persist into next year
• Institutional money keeps flowing to the majors first
• Large-cap alts such as $SOL sit in between: deep enough for funds, but still exposed to ETF outflows
👀 What to watch
• Whether altcoin depth stabilizes as spot volume recovers from the August low
• Counterpoint: in token units, altcoin depth has eased only modestly, so part of the drop reflects lower prices rather than fleeing market makers
💬 Have thinner altcoin markets changed how you size your trades?
#Altcoins #Liquidity