CoinGlass's 2026 semi-annual report on crypto derivatives shows that, amid a slowdown in overall trading activity, Bitget ranked highly in order book depth for major assets. The company disclosed that it ranked second in Ethereum liquidity depth and fourth in Bitcoin liquidity depth during the first half of the year.
ETH depth ranked second
According to CoinGlass's statistics, Bitget's order book depth within 1% of the midpoint price in the Ethereum market is $81.37 million, accounting for 21.4% of the total liquidity of the exchanges surveyed. This metric ranks it second in ETH liquidity depth.
In the Bitcoin market, the order book depth within the same statistical range is $71.7 million, accounting for 13.4%, ranking fourth. Order book depth is typically used to measure the impact of large transactions on price and is also an important indicator for institutional traders to assess execution quality.
Derivatives trading slowed down overall.
According to CoinGlass data, the crypto derivatives market cooled down overall in the first half of 2026. Average daily open interest decreased by 10% year-on-year, and total derivatives trading volume decreased by 15.7% year-on-year.
Compared to the more significant decline in trading volume, the decrease in open interest was smaller, indicating that some traders are still maintaining existing positions, and the market has not experienced a simultaneous and substantial deleveraging. In this environment, the liquidity and order execution capabilities of trading platforms are receiving more attention.
Bitget CEO Gracy Chen stated that while overall trading activity has slowed, the derivatives market remains sensitive to volatility, and liquidity depth is becoming an important indicator of exchange performance and market confidence.
Institutional trading volume increases
The company stated that the platform has previously undergone several updates to its trading infrastructure, primarily targeting professional traders and institutional clients. According to internal data provided by Bitget, institutional clients accounted for 82% of its spot trading volume by the end of 2025.
Bitget also updated its PRO and liquidity incentive programs this month, adjusting market-making conditions, trading fees, and liquidity incentives to cover crypto assets and tokenized traditional financial products. CoinGlass also mentioned in its report that Bitget participates in the trading of tokenized traditional financial products outside the crypto market.
Among the exchanges covered in the report, Bitget's trading volume of traditional financial perpetual contracts in the first half of 2026 reached $66.41 billion, accounting for 5.5% of the sector. The company stated that it will continue to advance its "Universal Exchange" model, integrating traditional financial products, tokenized assets, and crypto assets into a single trading environment.
Additional information:The core data in this article comes from CoinGlass's semi-annual report, but some of the institutional trading ratios and platform strategy statements in the article are from Bitget's own disclosures and are unilateral information.
