Whenever we trade cryptocurrency we always ask ourselves, “What will we gain from this?”. We know that it is inconvenient to have multiple accounts in different exchanges, visiting these exchanges, and getting real-time data on order-books.
An order book is a register of all orders being placed for a specific asset on a specific exchange. It helps market participants understand the market trends and dynamics over time.
If the order quantity on the buy-side is significantly larger than that of the sell side, especially on the best bid/ask price level, it suggests stronger momentum from the buy-side, and that the asset price is likely to rise. Similarly, if the order quantity on the sell-side is significantly larger, it suggests stronger momentum from the sell-side.
Currently, we are analyzing Binance, Bitfinex, Bitstamp, CoinbasePro, Huobi, Poloniex exchanges to provide real-time Orderbook Depth, Orderbook Flow, Price Walls for specific coin such as Bitcoin orderbook, Ethereum orderbook, etc.
Orderbook Depth: Orderbook Depth is a real-time crypto order book aggregator from specific exchanges. This chart shows the order-book data of the assets and helps you to understand that more people are interested to buy/sell the asset. You can also understand the prices placed by the traders. So, understanding the order book depth is one click away now!
Orderbook Flow: Orderbook flow is a simple chart that shows the data in percentage of how much traders are interested in buying and selling. The chart below shows that on Binance exchange for BTC/USDT trading pair, 61% of people have put sell orders. So, the status is ‘Buy’. Depending on the buy/sell percentage this chart shows Buy, Sell, Neutral, Strong Buy, and Strong Sell status.
Price Walls: Price walls are the biggest buy/sell orders of the exchanges. This chart below explains that on Binance there is a pending 44.39 BTC sell order for $10260 and 52.27 BTC buy order at $10180.
At this current stage, we are just providing BTC and ETH order book analysis. Let us know which cryptocurrency we should add next by joining our Telegram community.
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