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BTC $66,883.87 -2.13%
ETH $1,945.94 -1.28%
BNB $611.89 -0.38%
XRP $1.43 -4.07%
SOL $83.22 -1.04%
TRX $0.2803 -0.47%
DOGE $0.0990 -1.53%
ADA $0.2783 -2.07%
BCH $555.21 -0.51%
LINK $8.71 -1.59%
HYPE $29.19 -3.87%
AAVE $125.21 -0.77%
SUI $0.9573 -1.89%
XLM $0.1649 -2.79%
ZEC $283.44 -4.24%

coindesk

CoinDesk reports: Bitget platform leads the market in ETH and SOL spot liquidity

ChainCatcher news, recently, CoinDesk released the "Market Data Deep Report." The report shows that from November 2023 to June 2025, Bitget's cumulative trading volume for derivatives reached $11.5 trillion, firmly ranking among the top four globally; by 2025, the average monthly trading volume is expected to reach $750 billion, with nearly 90% coming from the derivatives business.Institutional users are rapidly driving structural changes at Bitget. In the first half of 2025, 80% of spot trading volume and 50% of derivatives trading volume came from institutions, with assets under management doubling within the year. The CoinDesk report indicates that this shift is attributed to Bitget's launch of liquidity incentive programs, institutional lending services, and unified account features.The report notes that possibly driven by the trading activity of BGB, Bitget's spot market share reached 5.2% in May this year, setting a new historical high. In terms of trading asset structure, BTC, ETH, and BGB accounted for 44% of its spot trading volume, demonstrating the stability of institutional demand.In terms of liquidity, Bitget's platform leads the market in ETH and SOL spot liquidity, with BTC spot having a 1% price depth ranking second globally; at a trading scale of $100,000, BTC's average slippage is only 0.0074%, placing its execution efficiency among the top three globally. The report also highlights that the on-chain trading business "Onchain," launched by Bitget in April this year, drove a 32% month-over-month increase in spot trading volume.

Analysis: Bitcoin has formed a hammer candlestick pattern for two consecutive weeks, which may indicate a key turning point

According to ChainCatcher news reported by CoinDesk, Bitcoin has exhibited consecutive hammer candlestick patterns over the past two weeks, a situation that is extremely rare in Bitcoin's history. The hammer candlestick pattern defined by analyst Checkmate refers to a candlestick where the upper or lower shadow accounts for 90% of the total price range, leaving a small body and long shadows.Data shows that during the week of February 24, Bitcoin's price fluctuated between a low of $78,167 and a high of $96,515, with a range of 23%. In the following week starting March 3, the price fluctuated between a low of $81,444 and a high of $94,415, with a range of 16%. Both weeks formed an open-high-low-close candlestick pattern, with fluctuations reaching double-digit percentages.Checkmate's analysis indicates that the hammer candlestick pattern with 90% lower shadow on the weekly chart has only occurred in five periods in Bitcoin's history: during the 2017 bull market, near the peak of the bull market at $69,000 at the end of 2021, after the Silicon Valley Bank crisis in 2023, after the summer pullback in 2023, and during the summer slump in 2024.Although this data does not show a clear pattern in Bitcoin cycles, the adjustment during the 2017 bull market is particularly notable, suggesting that such patterns may indicate critical turning points in price trends.
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