Bitwise has released some reports elaborating on the topic of spot market. The firm mentions and emphasizes on spreads in the spot market.
Bitwise Asset Management is the best provider of index and beta asset funds. The firm is waiting for the ’s decision.
The firm said that the spreads are much tighter than we thought before. Bitwise takes the time to clearly draw the line between real and fake exchanges on the basis of volume.
In the fake category is Coinbene, which has a volume of five hundred million dollars ($500 million) with a spread of twelve dollars ($12).
On the other hand, we have in the category of real exchanges. has a volume of seventy million dollars ( $70 million) with spreads of less than one dollar ($0.01).
The report released by Bitwise ends by stating that the on most of the exchanges that have ambiguity in their volume and data are of the fake category.
The spot market is very vast and resourceful. Its spreads rank in the lowest quoted financial instrument globally.
The that only ten overall crypto exchanges made it to the real category. These ten exchanges have a median spread on each for the month of April as well. The firm also mentions the five most liquidity prone exchanges. These five are , Bitfinex, Kraken, and .
In April was above the five thousand dollars level ($5,000). This indicated the start of an ongoing bullish rally that continues until the end of the month. The spreads on the largest crypto exchanges ranged between 0.01%– 0.03%.
The report also stated that the association of the volume with spread size is not clear cut because the exchange fees, tick size, and more things are involved.
Nonetheless, the association is strong, and the spreads are small on the exchanges within the real category.
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Published at Sun, 26 May 2019 17:04:47 +0000
