The latest data from the market analysis company CryptoCompare shows that the six largest cryptocurrency exchanges, based on the company’s analytical model, were responsible for a maximum of three years of spot volume in August.
The metric rates all cryptocurrency exchanges in a variety of areas, including clegal / regulatory issues, data provision, market security and quality, etc. and classifies them accordingly.
The most popular exchanges, Coinbase, Gemini, Kraken, CrossTower, Bitstamp and itBit received an AA rating in August, with a score of 86.26 to 75.28, respectively.
The report concludes: “In August, top-tier spot volumes increased 43.6% to $ 2.4 trillion and lower-tier cash volumes increased 10.4% to $ 218 billion. The top-tier exchanges currently make up 91.7% of the total cash volume. “
Although the data showed that Binance saw a 65% increase in 3-month spot volume with a peak of 751 billion a score of 65.12.
The world’s largest cryptocurrency exchange by trading volume lost points in the areas of asset quality / diversity and negative reports, but it did reasonably well in terms of data delivery and ranked third in terms of security.
Two months ago, The UK’s Financial Conduct Authority (FCA) ordered Binance to suspend all trading activities until it successfully completed an investigation into the exchange’s approval license and subsequent trading operations.
In response, the exchange announced that “The notification to the UK FCA has no direct impact on the services provided to Binance.”