Every day, billions of dollars move through crypto markets. Investors watch trading volumes to understand where money is flowing and which assets are attracting attention. But how much of that activity comes from actual people?
According to data from Birdeye, roughly two-thirds of crypto trades are driven by bots. On Solana, automated activity may account for as much as 80% of trading volume. Yet only a tiny fraction of wallets appear to be responsible.
The Singapore-based company unveiled Peak on Wednesday, targeting investment funds, family offices and professional traders. Subscriptions start at $799 a month, with custom packages for larger institutions.
Birdeye already supplies data to major crypto platforms. Its infrastructure tracks more than 400 exchanges across 20 blockchains. Peak brings that information directly to institutional investors.
What Does Birdeye Peak Actually Do?
Imagine a fund preparing to buy $10 million worth of Bitcoin. Seeing a large daily trading-volume figure tells it little about where that activity happens or whether a large order could move the price.
Birdeye Peak aims to answer those questions.
Typing TDA BTC brings up Bitcoin’s spot trading volume across individual exchanges, including each venue’s market share. Users can examine liquidity depth, holder concentration, ETF flows, regulatory filings and fundraising history in one workspace.
The terminal also covers token unlock schedules, wallet activity and risk measures. It offers AI-assisted research, watchlists and spreadsheet exports.
For institutions, these details can influence how much they invest, where they execute trades and how they assess risk.
“The token screener, what most people know as Birdeye Terminal, was simply our first major product, and it now serves millions of retail users,” co-founder and CEO Kha Nguyen told BeInCrypto. “When millions of people depend on your numbers, you have to get accuracy and latency right at the same time, every day. That pressure forced us to develop deep expertise in data indexing and analysis.”
Crypto Trading Is Dominated by Bots, Birdeye’s Data Suggests
The company’s research points to something investors rarely see in ordinary trading dashboards.
Birdeye estimates that roughly one-third of trades come from humans and two-thirds from bots. On Solana, as much as 80% of trading volume is identified as automated activity.
Yet just 1% to 3% of wallets behave like bots, according to its September analysis.
“If a trade happened onchain, its volume is real, it moved the market,” Nguyen said. “The more interesting question is how much of that volume comes from humans trading manually versus bots, and the answer is striking. A very small number of bots is responsible for the majority of crypto trading volume,” he said. “That is exactly the kind of signal institutions need to see clearly, and it is what Peak is built to surface.”
The implications extend beyond professional trading desks.
A token recording millions in daily volume might appear to attract enormous investor interest. Some of that activity could instead come from automated market-making, arbitrage or bots repeatedly buying and selling.
This matters when investors use volume to judge market interest or liquidity.
Birdeye identifies bots through rule-based analysis of trading behaviour.
“Generally we’ll categorise them as a bot when they do something a human technically cannot,” Nguyen explained.
That includes several trades per second, complex contract interactions and purchases within seconds of a token listing.
However, the findings remain preliminary. Birdeye has yet to publish its full methodology, which it plans to release in December alongside a Solana year-end report.
Note: The figures have not been independently verified, and automated trading does not necessarily indicate manipulation.
Crypto’s Data Companies Are Fighting for Wall Street
Peak arrives during a major shake-up in crypto analytics.
- Kaiko acquired Amberdata in June.
- Blockworks bought Messari the same month for a reported sum exceeding $10 million, far below Messari’s $300 million valuation in 2022.
- Allium raised $40 million, while Dune cut 25% of its workforce as it refocused on institutional customers and AI.
Reliable data has become increasingly important as AI assistants enter financial research.
When Blockworks opened its datasets to AI tools, co-founder Jason Yanowitz warned that “the agent has no way to check a number, so the data has to be standardized and sourced before it ever gets there.”
Birdeye believes owning its data infrastructure gives it an advantage. Unlike several competitors, the company has taken no outside funding.
“Every financial decision should come from real business demand and what helps the company grow healthily, not from following a trend,” Nguyen said. “Having capital and knowing how to deploy it well are two different things. I want to be sure that if we take on external money, we know exactly what we are doing with it.”
He has left the door open to investment.
“As demand increases, if the timing is right, we would be happy to welcome new investors.”
For investors, Peak’s biggest test will be whether its data helps distinguish genuine market demand from the enormous volume generated by machines.
The post Birdeye Launches Institutional Terminal as Bots Dominate Crypto appeared first on BeInCrypto.
