Order Book
Còn được gọi là: Limit Order Book, LOB
A real-time list of buy and sell orders for a trading pair, organized by price level, showing market depth and supply/demand dynamics.
An order book is a ledger of all outstanding buy (bid) and sell (ask) orders for a particular trading pair, arranged by price. It is the traditional mechanism used by stock exchanges and centralized crypto exchanges to match buyers with sellers.
Order Book Structure:
| Bids (Buy Orders) | Price | Asks (Sell Orders) |
|---|---|---|
| $61,500 | 2.5 BTC | |
| $61,400 | 5.0 BTC | |
| 3.0 BTC | $61,300 | |
| 8.0 BTC | $61,200 |
- Bid Side: Buy orders, sorted highest to lowest
- Ask Side: Sell orders, sorted lowest to highest
- Spread: Difference between the highest bid and lowest ask
- Depth: Total volume of orders at each price level
Order Types: - Market Order: Executes immediately at the best available price - Limit Order: Executes only at a specified price or better - Stop Order: Triggers a market order when price reaches a threshold - Stop-Limit: Triggers a limit order at a specified stop price
Reading the Order Book: - Thick bid walls suggest strong buying support at that price - Thick ask walls indicate selling resistance - A tight spread indicates high liquidity - A wide spread suggests low liquidity or volatile conditions
On-Chain Order Books: Some decentralized exchanges (dYdX, Serum) use on-chain or hybrid order books instead of AMMs. These offer more familiar trading experiences but require higher throughput blockchains to handle the volume of order placements and cancellations.
Spoofing Warning: Large orders sometimes appear and disappear quickly. This practice, called spoofing, is used to manipulate market perception and is illegal in regulated markets.
Thuật ngữ liên quan
Phân tích tiền điện tử liên quan
Khám phá cách Order Book áp dụng cho các tiền điện tử này với phân tích điểm STRICT chuyên sâu.