Order Books - Level 2 Market Data

What are order books?

To understand what order books are, we need to know the definition of market data, which is that market data is essentially the data that is provided by a cryptocurrency exchange to inform the stakeholders of the latest prices and other financial information for a particular cryptocurrency.

We can refer to order books are an advanced level of market data about cryptocurrencies that offer detailed information on ask and bid orders for a particular cryptocurrency. We can define order books into two levels—level 2 market data and level 3 market data. We’re going to focus on level 2 market data in this lesson.

The orderbooks endpoint

We can fetch level 2 market data using the orderbooks endpoint. As of this writing, CoinAPI provides current, latest, and historical data for level 2 order books.