Summary of main points
The price of Bitcoin exceeded 20,000, a record high. Under the hot market conditions, TokenInsight’s trading platform for Binance, Bitfinex, Coinbase, Huobi, and OKEx broke through 20,000 U.S. dollars for the first time (between 9:40 and 9:46, December 16, Beijing time). Data performance was observed and analyzed, and some interesting phenomena were discovered.
“OKEx has its first order with $20,000, and Coinbase is close behind
“A total of 65,096 transactions occurred on the Huobi platform, accounting for 46% of the market at the time, the top of the 5 platforms; while large transactions above 5 BTC occurred most frequently on Bitfinex
The figure below shows the comparison of the number of transactions on various exchanges within 6 minutes before and after Bitcoin broke $20,000. Exchange orders are concentrated in small orders below 1 BTC, and a total of 138,255 cases (small transactions) below 1 BTC occurred on 5 platforms, accounting for 97.63% of the frequency. Among the five platforms, Huobi and Binance had the most transactions, reaching 65,096 and 38,963, respectively; among them, Huobi had 64,022 small transactions. OKEx has the highest proportion of small transactions, reaching 98.54% of its total transactions. OKEx, Huobi, and Binance platforms accounted for a higher percentage of small transactions than Bitfinex and Coinbase.
At the same time, most large-value transactions of more than 5 BTC occurred on Bitfinex, with a total of 164; while there were only 6 large-value transactions on OKEx. However, the largest order in this rising market occurred on OKEx, which was 14.93 BTC Buy order for $19,900.
Market share within 6 minutes, source: TokenInsight
Number of transactions on the exchange, source: TokenInsight
“The larger the order volume, the stronger the demand for buying orders than the selling orders. The number of buy orders and turnover for large transactions of more than 5 BTC are both more than 3 times that of sell orders.
In the hot market, BTC buying demand far exceeds selling demand. Among the executed orders, the number of buy orders is 1.41 times that of sell orders, and the volume of buy orders is 1.82 times of the volume of sell orders. At the same time, the larger the volume of the order, the stronger the demand for buy orders compared to sell orders. In large transactions larger than 5 BTC, the number of buy orders and the transaction volume were as high as 275 and 2,781 BTC, respectively. The number of transactions is 89 times and 893BTC.
Number of buy/sell orders, transaction volume of buy/sell orders, source: TokenInsight
From the perspective of exchanges, the demand for Bitfinex and Coinbase buy and sell orders is quite different; among them, the demand for Bitfinex buy orders is particularly high, the number of buy orders is 4.36 times that of sell orders, and the volume of buy orders is 3.81 times that of sell orders. It is worth noting that Huobi’s data shows that the number of long and short two-way transactions is 32,548, and the number of long and short two-way transactions for each gear (from less than 1 BTC to more than 5 BTC), and the single largest transaction BTC The quantities are the same.
Information on the number of buy and sell orders and volume on each exchange, source: TokenInsight
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