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Silvergate Troubles Affecting Crypto’s USD Market Depth

Crypto’s US Dollar market depth has significantly dropped over the past month following Silvergate’s struggles, according to Kaiko data.

Kaiko said U.S.-based exchanges and market makers are becoming less liquid as they seem most affected by Silvergate’s implosion.

According to Kaiko data, Bitcoin and Ethereum’s market depth improved across international exchanges like Binance, OKX, and ByBit in the last 30 days. However, they worsened on US-based exchanges like Coinbase and Kraken during the same period.

(By Oluwapelumi Adejumo)

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