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- To arrive at their conclusions, the CryptoCompare report ranked the performance of several crypto exchanges based on factors such as security and asset diversity
- Within the month of August, popular exchanges Coinbase, Gemini, Kraken, CrossTower, Bitstamp, and itBit all received AA grading status, with scores ranging from 86.26 to 75.28
- The world’s largest crypto exchange by volume trading was docked points in asset quality/diversity and negative reports, but did reasonably well in data provision and tied for third place in a security
To arrive at their conclusions, the CryptoCompare report ranked the performance of several crypto exchanges based on factors such as security and asset diversity. According to recent data from market analyst firm CryptoCompare, the top six cryptocurrency exchanges were responsible for a three-year high in spot volume in August, according to the company’s analytical model. The metric assigns a grade to all cryptocurrency exchanges based on a number of factors, including legal/regulatory cases, data availability, security, and market quality, among others, and then ranks them in a list.
Within the month of August, popular exchanges Coinbase, Gemini, Kraken, CrossTower, Bitstamp, and itBit all received AA grading status, with scores ranging from 86.26 to 75.28. In August, Top-Tier spot volumes increased 43.6 percent to $2.4 trillion, and Lower-Tier spot volumes increased 10.4 percent to $218 billion, the report concludes. 91.7 percent of total spot volume is now traded on top-tier exchanges. Despite the fact that Binance reported a 65 percent increase in 3-month spot volume with a leading figure of $751 billion, the exchange was a conspicuous omission from the above list, ranking 23rd with a score of 65.12.
The world’s largest crypto exchange by volume trading was docked points in asset quality/diversity and negative reports, but did reasonably well in data provision and tied for third place in security. Binance was ordered to stop all trading activities by the UK’s Financial Conduct Authority (FCA) two months ago, pending the outcome of an investigation into the exchange’s permit licensing and subsequent trading operations. The FCA UK notice has no direct impact on the services provided on Binance, the exchange responded.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
