Altcoin News: Low-Rated Exchanges Occupy the Largest Market Share

October 22, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The cryptocurrency data provider CryptoCompare conducted a study of trading on cryptocurrency exchanges and it turned out that the bulk of trading falls on exchanges with a low rating.

According to the report, the trading volume on cryptocurrency exchanges in September 2019 amounted to $496 billion, while the exchanges with the highest AA rating showed a decrease in trading volume by 31.6% ($14.87 billion) and amounted to only 3% of the total trading volume.

Cryptocurrency exchanges with low ratings of D and E occupied 71% of the market ($347.2 billion), and platforms with high and medium ratings of A and B took 14.3% ($71.98 billion) and 4.7% (23.86 billion), respectively.

Image credit: CryptoCompare

The largest trading volume — $28 billion — was shown by the BitMax exchange with a rating of D. In second place was the exchange with the lowest rating E ($26.9 billion), and in third place was the Binance exchange, which was assigned a high rating A.

The volume of trading in Bitcoin futures on the CME exchange fell from $5.9 billion in August to $4.83 billion in September. Transactions on the OKEx exchange were conducted for $90.3 billion, which is 15% lower than in August, and on the Huobi, trading volume amounted to $84.5 billion.

Recall that in August of this year, the CryptoCompare portal reported that exchanges continued to dominate the cryptocurrency market with problems of complying with current regulatory requirements and ensuring data security.

Author: Marko Vidrih