Crypto News: Analytics Firm Unveils Top Cryptocurrency Exchanges with Highest Liquidity and Volume
A recent report by the analytics company Kaiko has identified the most powerful cryptocurrency exchanges based on their own scoring system.
Surprisingly, Binance has maintained its position as the leader in liquidity among the 43 exchanges surveyed in the second quarter of 2024. Following closely behind is the South Korean exchange, Upbit, which ranks 10th in the list despite its high volume but low activity score. Interestingly, Upbit’s management team consists of only one person.
In terms of average trading volume, Binance emerges as both the most liquid and highest-trading exchange during the observed three-month period. The significant difference in volume between Binance and Upbit, as well as other exchanges, is noteworthy. Offering twice as many assets as Upbit, Binance records a trading volume four times higher than Upbit. The wide variety of assets available on Binance likely contributes to its top position in terms of volume and liquidity.
However, when considering additional factors such as governance scores, Binance falls behind Coinbase and Bitstamp, ranking third and indicating room for improvement compared to its competitors.
In terms of market depth, LMAX stands out due to its focus on enterprise clients. The exchange allows spot trading for only 5 altcoins.
Please note that the above information is not investment advice. For those interested in investing in over 300 cryptocurrencies, registering with Binance through this link offers a 20% commission discount.
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