Backpack Exchange exchange overview
Decentralized (DEX). Country British Virgin Islands. Established 2023. Trust rank 40. Reported 24h volume 245.79 BTC.
Coverage: 57 active pairs across 57 tradable assets. Liquidity profile: Moderate. Concentration: Concentrated. Execution quality: Tight. Top ten pairs share 99.1%. Key pairs include BTC/USDC, ETH/USDC, SOL/USDC, HYPE/USDC. Leading pair BTC/USDC. Median spread on leading markets 0.03%.
What the key metrics mean
Volume mix: USDC is the largest tracked quote currency at about 100.0% of measured flow. Data scope: 57 tickers observed, with spread readings on 57 markets. Trust rank is best read as a positioning cue, and 24h BTC volume complements it with recent activity scale. Coverage captures breadth across pairs and assets, which affects how resilient liquidity can be under changing demand. Concentration tells you if activity is focused on a few markets or distributed across many pairs. Median spread represents the typical bid ask gap on leading markets and often aligns with day to day execution cost. A high top ten share suggests the venue is leader driven, so secondary pairs may react more during volatility. Tight spreads on the leaders generally support cleaner fills, especially when depth remains stable. A good read is to pair these metrics with the top pairs panel and the volume chart to und.
Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy