RATE Group | Bitfinex Supplied ‘Most’ Liquidity During $3.7K Bitcoin Crash — Report
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Bitfinex Supplied ‘Most’ Liquidity During $3.7K Bitcoin Crash — Report

04 Apr Bitfinex Supplied ‘Most’ Liquidity During $3.7K Bitcoin Crash — Report

Posted at 14:00h in Bitcoin News by

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Bitcoin (BTC) saw a “flippening” during its price crash to $3,700 last month — something that could reveal a new uncomfortable truth about exchanges.

In its March Exchange Review released this week, monitoring resource CryptoCompare highlighted liquidity as a key metric which changed during last month’s extreme volatility.

CryptoCompare: Bitfinex hit 40% of exchange volume

On March 12, as Bitcoin prices collapsed in a matter of hours, it was notably one platform in particular which provided more volume, and hence liquidity, for traders.

“Despite Binance and OKEx trading the most volume across all markets in broad terms, during the exact moment of the BTC crash (approx. 10:30 am GMT) which began on the 12th, it was Bitfinex that represented the majority of Top-Tier exchange trading volume (across BTC/USD and BTC/USDT markets),” the review states.

“This was followed by Coinbase, OKEx and Bitstamp who also maintained high volumes during this time.”

Bitcoin exchange volume for March 12, 2020. Source: CryptoCompare

Bitcoin exchange volume…

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