Ethereum’s market depth stands at approximately $13 million to $14 million within a narrow 0.15% of its current price. In layman’s terms, this figure indicates the amount of money available in orders that could influence the price of ether by just 0.15%. Such proximity to the price is crucial for routine trades and larger orders that investors aim to complete without significantly impacting the market.
This data challenges a common perception in trading that increased prices attract more participants, subsequently leading to deeper order books. However, this trend hasn’t been observed with ether.
Nonetheless, trading ether remains relatively straightforward.
“$ETH continues to exhibit reasonable liquidity at this level [within 0.15% of the market price], with most trading platforms displaying over $1 million in depth on either side,” CoinGecko noted.
Moreover, ether isn’t the only significant cryptocurrency experiencing reduced market depth.
Liquidity in Solana’s $SOL, a key competitor to ether, has also diminished, although CoinGecko assessed this across a broader range. “Overall liquidity for $SOL has significantly decreased since 2025,” the firm stated.
The market depth for $SOL within a 2% range of the market price dropped from about $28 million on both sides of the order book last year to roughly $20 million this year. This 2% depth indicates how much capital is available in orders positioned further from the current price point. It serves as a metric for assessing the market’s capability to manage buying or selling pressure before significant price shifts occur, similar to those experienced during a notable rally or sell-off. Thus, while ether shows a thinning of liquidity near the current price, $SOL‘s limitations are reflected in its capacity to endure larger fluctuations.