Top-Tier Crypto Exchanges0 Volumes Climb Back to One-Third of Total Market Share
On aggregate, the trading volume of top-tier cryptocurrency exchanges, those rated AA – B according to CryptoCompare’s Exchange Benchmark, increased by 61.2% during January, while the volume from lower-tier crypto exchanges, rated C – F, increased 46.4%. Overall, this means top-tier exchanges’ volume represents 29.3% of the total market.
The figure is notable as in December, top-tier cryptocurrency exchanges were seeing their volumes drop. So much so that in that month they [/umbraco/report]represented 26.4% of the cryptocurrency market’s total trading volume.
That’s according to CryptoCompare’s Exchange Review, which also found exchanges that charge taker fees represented 76% of the total volume last month, while those that implement the controversial trans-fee mining (TFM) model represented 22%.
Regulated bitcoin derivatives product volumes are still being dominated by the CME, whose total trading volumes went up 145.6%. Grayscale’s bitcoin trust product, GBTC, also saw its volume go up last month.
When it comes to derivatives in cryptocurrency exchanges, OKEx represented the majority of the daily derivatives volume, trading $4.96 billion per day and capturing 31.1% of the market. It was followed by Huobi, which captured 26.9% of it, and by BitMEX, at 19.6%.
