#交易对

Cryptocurrency trading pairs are an important concept that every investor encounters when entering the crypto space, but the strategies and choices hidden behind them are often overlooked.

Here are some of my observations and views on cryptocurrency trading pairs:

Trading pairs ≠ merely a channel for buying and selling

Many beginners think that trading pairs are just "I want to buy Coin A using USDT," but in reality, trading pairs reflect liquidity, pricing logic, investment strategies, and risk preferences.

Choosing a trading pair has strategic differences

Stablecoin pairs like USDT/USDC:

Suitable for beginners and swing traders, as both gains and losses are measured in USD, making it easier to understand and assess risks.

BTC/ETH pair:

Suitable for experienced players or long-term bullish investors in crypto assets. You may have acquired more of a certain coin but still show a paper loss; or the appreciation of the "counter coin" might unknowingly expose you to additional risks.

Altcoin pairs (like SOL/ETH, ARB/BTC):

Suitable for intermediate to advanced users for relative trading. For example, if you believe Solana will outperform Ethereum in the short term, you would use SOL/ETH to go long.

Incorrect trading pair selection = invisible risk exposure

If you buy a certain token with BTC, and that token is stagnant while BTC decreases, you are effectively losing value in both coins. The same logic applies if you use ETH as a trading benchmark; you are then bearing the risk of ETH's relative value fluctuations. This is a layer of risk that many beginners overlook.

Trading pairs reflect capital movement and market trends

Observing which trading pairs on exchanges have high trading volumes and deep order books can reflect current market hotspots. For instance, if a certain altcoin opens the ARB/XRP trading pair, it indicates that the importance of that coin within the Arbitrum or XRP ecosystem is increasing.

My suggestion: Trading pairs are also a "market observation tool"

Look at the types of trading pairs for newly listed coins

If a new coin initially lists trading pairs like "SOL/XXX" or "BNB/XXX," it indicates that the coin may have a deep binding with its ecosystem.

Track changes in high liquidity trading pairs

For example, ETH/BTC is an important signal of changes in market capital risk appetite. If ETH/BTC keeps rising, it indicates that altcoins and DeFi assets may be attracting more capital.