Liquidity (market depth)
Liquidity & market depthThe size you can trade before moving the price. On USD.NET this is indexed on-chain DEX pool depth containing the asset; centralised order books are not included.
Liquidity is not a single number — it is a curve of price impact against trade size. We surface indexed on-chain pool depth as a proxy because it is verifiable and comparable across assets and chains.
That proxy has known limits. It excludes centralised exchange order books, OTC desks, and the issuer's own primary redemption window — which for large regulated issuers is often the deepest venue of all.
Depth is also chain-local. A token with billions in aggregate liquidity may have only a few million on the chain you actually transact on.
Why it matters
Deep liquidity is what converts a peg promise into an exit you can actually use, at size, on a bad day.
How to read it
- •Compare depth on your chain, not the global total.
- •Institutional-size holders should weight primary redemption access above DEX depth.
See it in action
Related terms
The difference between the quoted price and the executed price on a trade, driven by depth, volatility and routing.
How far the market price sits from the token's reference value, in percent. USD.NET computes it as (price − peg target) ÷ peg target.
The number of chains where a token has meaningful circulating supply. Broad coverage helps distribution but fragments liquidity.
Value of assets deposited in a pool or protocol. Used as a depth proxy: it caps the size you can enter and exit without moving the market.