BitShares DexBot Liquidity Report on RUDEX.BTC and BTS.

in #bitshares10 months ago

Screen Shot 2019-08-22 at 8.32.19 AM.pngBitShares DexBot Liquidity Report on RUDEX.BTC and BTS.

Rudex is the Russian Portal for BitShares. The Rudex.BTC market has less volume than Bridge.BTC or Open.BTC; but we are keeping the same report format for comparison purposes. Liquidity is important on markets, but it does not take a ton of orders to make a market, there just need to be enough orders for what you want to do, to enable you to buy and sell.

BitShares has the unique possibility of allowing any two coins to be crossed, in practice it is helpful to migrate towards the more liquid markets. More liquid markets also attract more market makers. People like to be where other people are.

Currently, the price midpoint is 255,094 BTS for one RUDEX.BTC
Screen Shot 2019-08-22 at 8.18.17 AM.png
The first asset is RUDEX.BTC which had a recent price of $11,269 and had a market capitalization of $105,484 with 259 accounts or people holding it. This market was ranked 28th on activity based on a recent 24 hour trading volume of $1,072.

The second asset is BTS which had a recent price of $0.043 had a market capitalization of $11,8165,243 with 174,556 accounts or people holding it. This market was ranked 5th on activity based on a 24 hour trading volume of $251,221.

Generally, these numbers need to be taken with a grain of salt. The account numbers can include everyone who ever traded an asset and may need to be reduced by about 80 to 95% in order to get close to actual holders today.

This market is a lighter market, so there are less than 300 orders on both sides. There are 50 buy orders. There are 9 sell orders.

Here is a look at the buy orders.
Screen Shot 2019-08-22 at 8.18.38 AM.png

Here is a look at the sell orders.
Screen Shot 2019-08-22 at 8.18.55 AM.png

Screen Shot 2019-08-22 at 8.50.21 AM.png

The total buy amount is 13.230 RUDEX.BTC and 70,1751.05083 BTS
The total sell amount is 0.09763038 RUDEX.BTC and 28,341.46 BTS
The average buy order is for 0.2646067806 RUDEX.BTC worth about $2,981.85
The average sell order is for 0.01084782 worth $122.24
In total on the buy side there is about $149,092.69
In total on the sell side there is $1,100.2
So some accounts have multiple orders in them
We are looking at 50 buy orders and 9 sell orders for a total of 59 orders.
There are only 25 accounts trading in this market
That means each account on average has 2.4 orders.

In order to get a little better understanding and a little fairer prices, let’s assume you buy or sell taking the top 10 orders currently out there on the order book.
We will look at the orders 10 at a time to get a little better understanding of liquidity, size and price that is available.

For the first 10 buy orders out there, 0.02375837 RUDEX.BTC for 5830.76BTS or about $267.73307153.
For the second 10 buy orders out there, 0.0105519 RUDEX.BTC for 2100.35BTS or about $118.9093611.
For the first 20 to 30th buy orders out there, 0.0037666 RUDEX.BTC for 371.495BTS or about $42.4458154.

Screen Shot 2019-08-22 at 8.19.11 AM.png

Screen Shot 2019-08-22 at 8.19.29 AM.png

Screen Shot 2019-08-22 at 8.19.46 AM.png

Screen Shot 2019-08-22 at 8.19.58 AM.png

If you wish to buy immediately and you took the top sell orders on the book this is what it would look like.
The first 10 sell orders offer up an average of 0.01084782 RUDEX.BTC for 3149.05 BTS or about $122.24.
There are no more orders on this market, there is a chance bots would bring more to market by the time you took these orders, or if you had additional coins you wanted to sell you may need to sell them for another coin such as Rudex.eos, Open.BTC or Rudex.Steem and then sell those assets.

Here is a look at the top Rudex.BTC markets according to Cryptofresh.
Screen Shot 2019-08-22 at 8.32.19 AM.png

https://www.cryptofresh.com/a/RUDEX.BTC

There are lots of factors that go into making of cryptocurrency markets. The DexBot project is an open source market making project that has been helping to build out market liquidity. Rudex also has its own market making bot that is web based.

https://market.rudex.org/#/bots

Both of these bots can support a similar basic market making strategy. Both bots also support other unique strategies. I have used both bots and they both have strengths and weaknesses, which go beyond the scope of this article.

Details
So these reports are brought to you by Cryptick who is involved in the BitShares DexBot Project.
BitShares is an exciting decentralized Block Chain Based Exchange.
Being Decentralized, things just sort of happen, people step up and do things as need may be.
These statistics are believed to be true, but there are probably some miscalculations in them please forgive me.
If you see a problem with the statistics let me know and I will try to hunt down the offending formula and calculations.
Most of the data in these reports comes from Cryptofresh.com, a BitShares Blockchain explorer.
The main purpose of these reports is to help people understand the liquidity on the BitShares markets.

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Hi cryptick, did you know you can also view this post on Steemie?

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Following up on Rudex; The bot can actually be run locally as well. (This means you download the software and run the software on your computer rather than just on the website.)