Bitcoin Tops Liquidity Ranking, ETH Follows: Where Does XRP Rank?

Bitcoin (CRYPTO: BTC) liquidity across major centralized exchanges surged nearly 50% in 2026, widening its lead over Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL).

XRP (CRYPTO: XRP) stood out with substantially more capital sitting on the bid side of its order books and Dogecoin (CRYPTO: DOGE) remained the least liquid, according to a CoinGecko report published Tuesday.

Across eight major centralized exchanges included in CoinGecko’s study, Bitcoin recorded median cumulative depth of roughly $29 million on the buy side and $37 million on the sell side.

Binance remains the deepest venue, accounting for 25.3% of total BTC liquidity across the exchanges studied.

The deeper books suggest larger trades can be absorbed with less slippage, strengthening Bitcoin’s position as the crypto market’s most institutionally accessible asset.

Why Is ETH, SOL Liquidity Shrinking?

Ethereum moved in the opposite direction. Median ETH liquidity stands at roughly $13 million to $14 million within a 0.15% range, equivalent to just 35% to 45% of Bitcoin’s depth.

In 2025, ETH orderbook liquidity was at least 60% of Bitcoin’s within a comparable range.

Solana saw an even clearer deterioration. Single-sided liquidity across the eight exchanges dropped more than 28.5%, from roughly $28 million in 2025 to about $20 million this year.