Bitway today: The price increased by 50%. On one trading platform, the price of BTW decreased by 43%

Bitway’s price reached a new high, with a daily increase of 50%

On Wednesday morning, Bitway’s price reached a historic high of $2.77, representing a rise of 50.03% compared to the previous 24 hours. The project’s team did not release any announcements to explain this surge. What is more concerning is that Bitway’s price varies significantly across different trading platforms. On the two largest platforms, the token price is around $2.61, while on another platform, it is only $1.50.

Currently, the token has a market value of approximately $7.26 billion, making it the 19th largest cryptocurrency by market value. In the past 7 days, Bitway’s price has increased by 118.98%, and in the past 30 days, it has risen by about 255%. Its historical highest price was $2.77, reached on the early morning of October 14.

Isolated market movement: Bitcoin and Ethereum remain stable

This surge seems particularly isolated. The trading price of Bitcoin is $83,395, down 0.35% from the previous day; Ethereum’s price is $2,503.74, down 1.17%. Therefore, there is no broad bull market trend that could drive Bitway’s price up.

Invalid explanations

On August 13, the project launched a interest-based staking program, offering an 8% base yield in USDT and 4% platform rewards. However, this program expired on September 1, so it cannot explain today’s sudden increase. There is also no information added on October 14 in the public documents. From a fundamental perspective, this seems more like a mere price fluctuation, rather than something driven by news events. This distinction is crucial during subsequent corrections, as there are no clear triggers to anchor expectations.

The trading volume is highly concentrated. Among all 16 trading pairs, the daily total volume amounts to approximately $167.5 million. Of this, the Gate platform contributed $95.4 million, accounting for 56.95%, while the Bitget platform contributed $57.5 million, accounting for 34.34%. Together, these two platforms account for 91.3% of the total trading volume.

The remaining portion is distributed among eleven other addresses: MEXC accounts for 2.72%, decentralized platforms on the BNB Chain account for approximately 2.7%, DigiFinex accounts for 1.52%, and HTX accounts for 0.89%. Subsequent percentages decline sharply: Toobit accounts for 0.38%, KCEX accounts for 0.27%, BitKan and Ourbit each account for 0.12%, and Poloniex accounts for only 0.02%.

The turnover rate is extremely high. Comparing the daily trading volume with the market value, the turnover rate stands at 2.31%. For such tokens, this is a significantly high figure. Previous data showed that the turnover rate had even dropped to 0.55%. The surge in trading volume mainly occurs on these two leading platforms. Such high concentration is primarily due to issues related to access rights: if users cannot use one platform, their orders will have to be transferred to another platform.

There is a price discrepancy between the two quotes for the same asset.

This is the most important discovery of today. On the Gate platform, the BTW price is $2.6116, while on Bitget it is $2.6165. The difference is less than half a cent, indicating a balanced market situation. However, at the same time, the DigiFinex platform’s quote is only $1.4951, which is 42.75% lower than the Gate platform’s price (rounded to 43%).

这一缺口并非快速波动中的瞬间快照。DigiFinex的日内最高价为1.5294美元，最低价为1.3649美元。该平台并未参与此次上涨行情：当BTW在Gate平台上从1.756美元涨至2.7996美元时，DigiFinex的价格区间上限甚至低于大型平台的日内最低价。

无成交记录的报价不等于真实价格

“价格缺口”描述的是同一资产在不同平台上同时出现显著价差的状态。通常交易者会在几秒内通过套利消除这种差距，因为差额即利润。当差距持续数小时未闭合时，通常是因为缺乏双向的可交易流动性。

DigiFinex订单簿为空：情况正是如此。在BTW的订单簿中，既没有买单（Bid）也没有卖单（Ask）。因此，1.4951美元的报价仅代表最后一次成交价，而非当前可买卖的价格。

这一区别具有实际意义：若投资组合追踪器以此平台为数据源，显示的持仓价值将比大型平台低43%。反之，看似低廉的价格若无卖家承接，则毫无价值。

如何识别空订单簿

打开交易窗口的订单簿，查看两侧顶部行。若数量显示为零或空白，则交易处于停滞状态。第二个线索是日内波动范围：若与其他平台显示的相同代币波动范围严重偏离，说明该平台未能同步反映市场动态。

订单簿深度浅薄

Even on two major trading platforms, the depth of the order book is quite limited. On the Gate platform, the best bid order holds 280.3 BTWs, which is worth approximately $732 at a price of $2.6102 per unit. The best ask order holds 146 BTWs, worth around $382. On Bitget, there are 89.18 BTWs on each side of the order book, totaling approximately $233. These figures only reflect the depth at the best price levels, not the overall depth of the order book. This means that the first price level can be easily exhausted. If someone buys 2,000 USD in BTWs on the Gate platform, it will cause multiple clearing of orders at higher prices. The spread between buy and sell prices on the Gate platform is 0.13%, which seems like good liquidity. However, the real factor lies in the inventory behind this tight spread. In this case, there is only a few hundred USD in reserves. Some transactions may result in slippage. Market orders will consume all pending orders in the order book until they are executed. In a shallow order book, the first part of an order is executed at the quoted price, while the remaining parts are executed at increasingly lower prices. The difference between the observed price and the actual paid price is called slippage. Limit orders can help prevent this risk. They set a maximum payment price and accept that the order may not be fully executed. Given that the token’s intraday volatility reaches up to 59%, limit orders are a more stable option. Leveraged products can magnify risks.By the way, there are also derivatives with no expiration date, such as perpetual contracts. Through margin deposits, the value of positions can be increased significantly. If prices move in the opposite direction, and the margin funds run out, the position will be forced to be closed. Considering that the price within a day fluctuated between $1.756 and $2.7996, even moderate leverage could trigger the liquidation mechanism.

Licensing and trading partnerships: European users can make purchases using USDT (stablecoin), rather than euros. German users need to follow two steps: first convert euros into stablecoins, then convert stablecoins into BTW. Each step involves fees and spread costs, with the first step involving foreign exchange conversion.

Another issue is licensing. According to the EU’s “Cryptocurrency Market Regulation” (MiCA), providers targeting EU customers must obtain authorization from the relevant authorities. Currently, none of the platforms listing BTW have such authorization. Before placing orders, please verify the regulatory body overseeing your account, and note that EU deposit and investor protection regulations do not apply in unauthorized jurisdictions.

Risks associated with non-EU accounts differ from those of EU accounts. Without EU authorization, providers cannot comply with regulatory requirements for disclosure and custody. In case of disputes, laws of the provider’s country will apply. This is not a criticism of providers, but rather a consequence of jurisdiction issues, which must be considered before transferring funds.

Supply and demand levels for the next batch of tokens to be released

Out of the total maximum supply of 10 billion BTW tokens, currently 2.708 billion tokens are in circulation. The remaining 7.29 billion tokens remain locked and will be released over a fixed timeline. The fully diluted value is approximately $26.79 billion, which is 3.69 times the current market value. The next batch of tokens is scheduled to be released on November 2nd, with a quantity of 101.63 million BTW tokens. This represents 3.75% of the current circulating supply and 1.02% of the maximum supply. Although this release isn’t an outright sale, it still increases the amount of tokens that can be sold. BTW tokens exist on both the BNB Chain and Ethereum networks, with separate contract addresses for each. Using these addresses together poses significant risks: tokens sent to the wrong chain may be lost. Always verify the blockchain to which the transaction is directed before transferring any funds.

Token custody is handled securely using two different blockchains and two contract addresses.

BTW tokens are stored on both the BNB Chain and Ethereum networks, each with its own contract address. Combining these addresses increases risk: tokens sent to the wrong chain may be lost. Always check the blockchain to which the transaction is directed before transferring any funds.

If you don’t want to keep a large amount of assets in your trading account, it’s recommended to use self-custody methods. The keys are kept by the holder, and the responsibility for security also lies with them. The choice of device depends on the size of your assets and the frequency of transactions.

Tax considerations: Trading cryptocurrencies for a period of one year is considered private income. Income from selling cryptocurrencies within one year from purchase requires taxation; however, income from selling them after one year is tax-free. There is an annual exemption limit of 1,000 euros.

It is worth noting that when converting stablecoins to BTW using USDT, it is considered a sale of stablecoins and an acquisition of tokens from a tax perspective. The one-year tax exemption period for BTW begins from the date of this conversion. For tokens with high volatility, frequent reconfigurations may result in numerous transaction records that need to be reported at the end of the year. This information does not constitute tax advice.

Analysis of intraday volatility: Looking up, the historical high of $2.77 serves as a benchmark for assessing upward trends; the highest intraday price on the Gate platform was $2.7996. Looking down, the lowest intraday price was $1.756, while the opening price on Bitget was $1.783. The volatility range between these two values is 59%.

The current price of approximately $2.61 is only about 6% below the intraday high. Whether the upward trend can continue can be determined by the turnover rate: if the price drops to 0.55% of October 11th, it indicates a decline in interest, and in such cases, a sparse order book will be disadvantageous for buyers.

Summary and recommendations

Three steps to take in response to today’s situation:

1. Before placing orders, compare the prices across platforms: Compare the quotes offered by both platforms.
2. Choose a platform with higher liquidity and set a price limit: If the price difference is significant, trade on platforms with larger trading volumes and use price limits.
3. Separate trading from custody management: Assets that are held over the long term should not be kept in a trading account, especially for tokens that involve multiple trading pairs.

Every transaction should be recorded starting from the first exchange. Since the transaction involving USDT involves two separate transactions, it’s recommended to use professional tax software and tracking tools for managing these transactions.

November 2nd is the next known calendar date. Before then, one key question remains unresolved: Can a 255% price increase occur within 30 days, without any clear triggering factors?

(As of October 14, 2026. This article does not constitute investment advice. Prices and rates may change; please verify the terms with the provider before purchasing.)