More coins isn't better: Gate.io's 1,700 listings vs Binance's liquidity depth
The widest coin catalog and the deepest order books are different products. Here's how to pick based on whether you trade majors or long-tail alts.
If you want the largest selection of coins, Gate.io wins: it lists 1,700+ assets, the most of any exchange we track. If you want the deepest, most efficient trading, Binance wins: it carries our highest liquidity rating at 4.9/5 despite listing only 380+ coins. Those two facts are not in conflict — they describe a real trade-off. Breadth of catalog and depth of liquidity are different products, and picking the wrong one for your style costs you money in ways that never show up on a listing page.
Why listing count and liquidity pull in opposite directions
An exchange's liquidity is not one pool of money spread across every pair. It is thousands of separate order books, each with its own buyers and sellers. Market makers — the firms that quote both sides and keep spreads tight — allocate capital where volume is highest and hedging is easiest. Every new listing dilutes that attention a little further. An exchange can add coins faster than it adds market makers, and when that happens the newest, smallest pairs sit in thin books with wide spreads and little depth. That is the mechanical reason a 1,700-coin catalog does not automatically mean 1,700 tradeable markets.
What the two catalogs actually look like
- Gate.io: 1,700+ coins listed — the widest selection we track — with a liquidity rating of 3.8/5.
- Binance: 380+ coins listed — roughly a fifth of Gate.io's catalog — with a liquidity rating of 4.9/5, the highest we track.
- The gap in coin count is large; the gap in liquidity rating is equally real. Each exchange is optimised for a different job.
A 3.8/5 rating isn't a bad score — it reflects an exchange that supports an enormous number of markets, many of them small. A 4.9/5 reflects an exchange that concentrates depth into a much shorter list. Neither is a verdict on safety or quality; they measure how much friction you meet when you actually trade.
Pick by what you trade, not by what's listed
The useful question isn't "which exchange has more coins?" but "does the coin I want trade with enough depth on the exchange I'm using?" If you mostly trade BTC, ETH and other large caps, depth is what matters and catalog breadth is close to irrelevant — you would be paying for listings you never touch. If you actively hunt newly listed, small-cap tokens, the opposite applies: the coin has to exist on the venue before liquidity is even a question, and you should expect thinner books and wider spreads on those specific pairs wherever you find them.
- Majors-focused trader: prioritise the liquidity rating; a shorter listing list is a feature, not a limitation.
- Long-tail alt trader: prioritise catalog coverage, then check the depth of the specific pair before sizing a trade.
- Doing both: it is entirely reasonable to keep a deep-liquidity venue for majors and a broad-catalog venue for small caps.
Whichever route you take, check the individual market rather than the exchange headline. Order book depth and spread on the pair in front of you tell you more about your real execution cost than any site-wide rating — including ours.
Which crypto exchange has the most coins?
Gate.io lists the most coins of the exchanges we track, at 1,700+ assets. That figure refers to the breadth of its catalog, not to how much volume each individual pair does.
Which crypto exchange has the best liquidity?
Binance holds our highest liquidity rating at 4.9/5. It lists 380+ coins — far fewer than Gate.io's 1,700+ — but concentrates trading depth into that shorter list. Gate.io's liquidity rating is 3.8/5.
Does listing more coins make an exchange worse?
Not automatically — but it does spread market-maker attention across more order books. A broad catalog is a genuine advantage if the coins you want are only listed there; it simply doesn't guarantee deep liquidity on each of those pairs.
Should I choose an exchange by coin count or by liquidity?
By what you trade. If you stick to major pairs, liquidity depth is the thing that affects your execution, so a high rating matters more than a long list. If you trade small-cap alts, catalog coverage comes first — then check the specific pair's order book before trading.
Can I get both wide selection and deep liquidity?
Not usually from a single venue — that's the trade-off. Many traders keep one deep-liquidity exchange for majors and a broad-catalog exchange for long-tail tokens, rather than expecting one platform to be best at both.