According to a Nov. 6 study by Kaiko, a premier provider of cryptocurrency market data, Bitcoin's October rally has not closed the 'Alameda gap' that emerged following the FTX debacle one year ago.
The research indicates that the market's depth is still down by 55% from the levels seen before the FTX incident.
In a period characterized by low volatility, Bitcoin experienced a 20% increase in October 2023, yet the 'Alameda gap' persists. This term refers to the significant drop in order book depth that occurred after the collapse of FTX and its affiliate, Alameda Research. Market depth for Bitcoin, Ethereum, and other altcoins on centralized exchanges was reported at $800 million last week, maintaining a position significantly lower than before the FTX crash.
Kaiko attributes this trend partly to the subdued volume and
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First found on: Alameda Gap Lingers: Assessing Crypto Market Recovery One Year After FTX Collapse
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