Recent data from market analyst firm CryptoCompare reveals that the leading six cryptocurrency exchanges, as per the company’s analytical model, were responsible for a 3-year high in spot volume throughout the month of August.
The metric grades all cryptocurrency exchanges across a multitude of areas — including legal/regulatory cases, data provision, security and market quality, among others — and ranks them in a list accordingly.
Popular exchanges Coinbase, Gemini, Kraken, CrossTower, Bitstamp and itBit all received AA grading status within the August period with a score ranging from 86.26 to 75.28 respectively.
The report concludes: “In August, Top-Tier spot volumes increased 43.6% to $2.4tn and Lower-Tier spot volumes increased 10.4% to $218bn. Top-Tier exchanges now represent 91.7% of total spot volume.”
Although the data revealed that Binance reported a 65% increase in 3-month spot volume with a leading figure of $751B, outstanding regulatory concerns in numerous global jurisdictions meant that the exchange were a stark omission from the above list, ranked