Visualizing a moment in time in Crypto

LSEG data shows market depth and fragmentation in crypto space, with GateIO specializing in executing the "rsr" meme coin.

Data Source - Thanks to LSEG (London Stock Exchange)

Leveraging a snapshot of data the London Stock Exchange (LSEG) shared with us, we pulled together two different views to paint a picture around depth of market as well as a fragmentation in the crypto space.

Looking at all of the exchanges where assets are traded within the snapshot, you see a level of ‘specialization’ playing out – away from the major assets (BTC, ETH) – see GateIO executing the vast majority of ‘rsr’ (meme coin? 😉)

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…and in some cases assets trading at different levels depending on the exchange.

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The data is only a moment in time, but at first glance some arbitrage opportunities.