Keyrock SSV Liquidity Report
Over the past month, Keyrock has continued to support deep liquidity for SSV trading pairs across multiple exchanges, ensuring smooth trade execution and market stability. With Bitcoin rising 13.8% in January, overall cryptocurrency market activity surged, reflecting positively on SSV’s trading volume and liquidity conditions.
Market Performance Overview
Keyrock remained a key player in providing liquidity for SSV, efficiently handling large orders and minimizing slippage. The following data highlights our activity across major trading venues:
- Binance (SSV/USDT): Keyrock accounted for $4.64M in volume
- OKX (SSV/USDT): Accounted for $2.64M in trades
- Bybit (SSV/USDT): Accounted for $1.16M,
Metric 1: Median Depth within Distance from the Mid-Price
The following charts showcase Keyrock’s liquidity depth for SSV-USDT across Binance, Bybit, and OKX.
- Binance: Maintained the deepest liquidity, with median depth consistently at $100K on both buy and sell sides, ensuring a strong buffer against large trades.
- Bybit: Liquidity remained reliable, with median depth around $30K, ensuring adequate liquidity even during periods of higher volatility.
- OKX: While some fluctuations were observed, Keyrock’s strategies ensured depth levels remained competitive, balancing the order book dynamically with median depth also in the $30K range.
Metric 2: Keyrock Market Share
Keyrock maintained strong market presence, occasionally reaching nearly 20-30% of total trading volume across exchanges. On Binance, market share exceeded 10% during periods of high activity, showcasing Keyrock’s resilience in handling high trade volumes with minimal impact. On Bybit and OKX, Keyrock’s share occasionally peaked at 30%, reinforcing its role as a reliable liquidity provider.
Metric 3: Spread Performance
The following charts compare Keyrock’s bid-ask spreads with the broader market across Binance, Bybit, and OKX:
- Binance: Keyrock maintained stable spreads between 8-10 bps, with minor fluctuations during periods of increased volatility.
- Bybit & OKX: Despite higher volatility, Keyrock maintained stable spreads between 10-20 bps, ensuring smooth trade execution.
Conclusion
Between January 1st and January 31st, Keyrock remained a key liquidity provider for SSV markets, maintaining deep order books, absorbing large trades, and ensuring tight spreads. Our monthly reporting will continue to provide transparency on our market impact and liquidity contributions.