Bitget ranked second for Ethereum order-book depth during the first half of 2026, according to CoinGlass. The result strengthens the exchange’s position among major derivatives platforms as t
Bitget ranked second for Ethereum order-book depth during the first half of 2026, according to CoinGlass. The result strengthens the exchange’s position among major derivatives platforms as traders increasingly prioritize liquidity, pricing stability and execution quality.
Bitget recorded $81.37 million in Ethereum order-book depth within 1% of the mid-market price. This represented 21.4% of the liquidity measured across the venues included in the CoinGlass report. The performance comes as Ethereum exchange reserves decline, making immediately available ETH liquidity more valuable.
Only Binance ranked ahead of Bitget. The result means the platform maintained more ETH buy and sell orders close to the market price than most of the exchanges assessed during the first half of 2026. Order-book depth is a practical measure of trading quality. A deeper market allows traders to execute larger positions with less slippage. It also reduces the risk that a single order will cause an abrupt movement in the price of Ethereum.
CoinGlass reported that total crypto derivatives volume declined by 15.7% year over year in H1 2026. Average daily open interest fell by a smaller 10% during the same period. This difference suggests that trading activity slowed more rapidly than outstanding market exposure. Investors remained active, but they traded less frequently and became more selective about the platforms they used.
In such conditions, headline volume becomes less meaningful on its own. Traders focus more closely on spreads, order-book resilience and execution costs. Exchanges with limited liquidity can expose users to higher slippage, particularly when market volatility suddenly increases. Bitget also performed strongly in Bitcoin markets. The exchange recorded $71.70 million in BTC order-book depth within 1% of the mid-price. That figure represented a 13.4% share and placed Bitget fourth among the exchanges included in the study.
Your 1st cryptos with BitgetThis link uses an affiliate program.Bitget’s Ethereum liquidity performance reflects its growing focus on professional traders. According to the exchange’s internal data, institutional participants accounted for 82% of its spot trading volume by December 2025. This shift was previously examined by Cointribune, which reported that institutions dominate Bitget volume. Institutional traders generally require deeper markets because they operate with larger positions and stricter execution requirements.
They also examine factors that retail traders may overlook. These include market latency, fee structures, spread consistency and the ability to complete large orders without significantly changing the market price. Bitget upgraded its PRO and Liquidity Incentive Programs in early July. The changes improved trading costs, liquidity rewards and market-making conditions across both crypto assets and traditional financial products.
According to Bitget CEO Gracy Chen, liquidity depth has become a central measure of exchange trust and performance. This is particularly relevant when overall activity slows but traders continue to maintain significant market exposure.
The CoinGlass report also highlighted Bitget’s expansion into traditional financial products. During the first half of 2026, the exchange recorded $66.41 billion in TradFi perpetual contract volume. That amount represented 5.5% of the total volume measured across the five platforms included in this section of the report. It shows that demand for stocks, commodities and foreign exchange products is growing within crypto-native trading environments.
Cointribune previously covered this development after Bitget reached $70 billion in TradFi volume. The exchange is using its Universal Exchange model to combine cryptocurrencies, tokenized assets and traditional markets within a single infrastructure. Ethereum liquidity remains important to this strategy. ETH is not only a major speculative asset. It also supports staking, decentralized finance, tokenization and institutional portfolio strategies.
A strong Ethereum order book can therefore attract traders who may later use other products on the platform. Bitget’s second-place ranking suggests that the exchange is building the liquidity foundation required for that broader multi-asset ambition. The challenge will now be maintaining this depth during periods of sharp volatility. Liquidity rankings are most valuable when markets are under pressure, not only when trading conditions remain stable.
