Cypher overview
Decentralized (DEX). Trust rank 250. Reported 24h volume 55.18 BTC.
Coverage: 13 active pairs across 12 tradable assets. Liquidity profile: Low. Concentration: Concentrated. Execution quality: Competitive. Top ten pairs share 99.8%. Key pairs include 0XDAC17F958D2EE523A2206206994597C13D831EC7/0XC02AAA39B223FE8D0A0E5C4F27EAD9083C756CC2, 0XDAC17F958D2EE523A2206206994597C13D831EC7/0X2260FAC5E5542A773AA44FBCFEDF7C193BC2C599, 0X7F39C581F595B53C5CB19BD0B3F8DA6C935E2CA0/0XC02AAA39B223FE8D0A0E5C4F27EAD9083C756CC2, 0XA0B86991C6218B36C1D19D4A2E9EB0CE3606EB48/0XDAC17F958D2EE523A2206206994597C13D831EC7. Leading pair 0XDAC17F958D2EE523A2206206994597C13D831EC7/0XC02AAA39B223FE8D0A0E5C4F27EAD9083C756CC2. Median spread on leading markets 0.61%.
Understanding activity and pricing
Volume mix: 0XC02AAA39B223FE8D0A0E5C4F27EAD9083C756CC2 is the largest tracked quote currency at about 74.6% of measured flow. Data scope: 13 tickers observed, with spread readings on 13 markets. Trust rank is best read as a positioning cue, and 24h BTC volume complements it with recent activity scale. Coverage reflects breadth of markets you can access here, which matters when you need alternatives beyond the top pair. Concentration helps explain whether liquidity is diversified or tied to a handful of dominant pairs. Median spread captures the common bid ask distance on top books and helps set expectations for market orders and tight limits. With a compact set of pairs, most activity tends to funnel into the leaders, so the top pairs list becomes especially important. Top ten share is very high here, which can make liquidity feel deep on the leaders while thinner elsewhere. When compari.
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