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? 😉)
…and in some cases assets trading at different levels depending on the exchange.
The data is only a moment in time, but at first glance some arbitrage opportunities.