Ethereum’s order books carry $393 million inside a 2 % band, the most since February, yet a three‑fold jump in spot turnover compressed the depth‑ratio to fresh lows. We unpack where that liquidity sits and what the bid‑ask split reveals about short‑term sentiment.
Ethereum order‑book liquidity has grown 41 % since April
Thicker books and a volume surge painted a busy picture for Ethereum.
4 min read
Updated: Jul. 23, 2025 at 2:56 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ethereum is an open source smart contract platform and decentralized network that underpins a large share of the global crypto economy.
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