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Kaiko: Kraken overtakes Coinbase as the most liquid altcoin exchange in the US

According to cryptocurrency research company Kaiko, based in California, USA, Kraken, a cryptocurrency exchange, has become the preferred market for US altcoin trading, surpassing competitors like Coinbase. Kaiko states that Kraken accounts for 47% of the top 10 altcoin market depths. Market depth refers to the ability of a specific market to absorb large buy or sell orders without affecting the asset price of that market. After last year's price drop and the collapse of FTX, exchanges and the liquidity and market depth of cryptocurrencies were negatively affected. According to The Block's data dashboard, Kraken's market share in exchanges that support US dollar deposits steadily increased last year, rising from around 8.3% in August 2022 to 21.1% in July.

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