Study: in July 2019, the trading volume on “doubtful” cryptocurrency exchanges exceeded $ 300 billion

Despite the fact that reputable exchanges have recently increased trading volumes, dubious trading platforms continue to dominate the market, whose approaches to meeting regulatory requirements and ensuring user safety are far from the standards set. This conclusion is contained in the latest study of the analytical portal CryptoCompare .

Thus, according to the recently launched Exchange Benchmark rating system, in July trading volumes of AA exchanges grew by 29% compared to the previous month. In total, they accounted for 5% of the total volume ($ 31 billion), for category A and B exchanges, these indicators amounted to 19% ($ 119 billion) and 8% ($ 47 billion), respectively.

At the same time, the aggregate trading volumes of D and E exchanges amounted to 64% ($ 316 billion).

In general, trading volumes on “trusted” exchanges (AA-B categories) grew by 4.4% in July, while for exchanges from CF categories the increase was only 0.7%. The total volume on trusted exchanges nevertheless amounted to only one third (32%) of the total market.

Among CF category exchanges, the largest average transaction sizes were on LBank, Coinsbit and CoinBene – 3.7, 1.6 and 1.1 BTC, respectively. It is noteworthy that on LBank (category D), the average transaction size in the BTC / USDT pair was 15 times higher than in the BTC / USD pair on the leading American exchange Coinbase (category AA).

In terms of the number of transactions concluded daily, on LBank this figure amounted to 25 thousand in the BTC / USDT pair against 100 thousand in the BTC / USD pair on Coinbase. The leaders in the number of daily transactions concluded in July were Liquid (more than 400 thousand) and Binance (more than 300 thousand). More than 200 thousand transactions were made on OKEx and BitFlyer.

The study also showed that the largest cryptocurrency exchange in terms of trading volume with an indicator of $ 20.4 billion turned out to be Bithumb. At the same time, the South Korean platform showed impressive growth rates – in July its volumes grew 46.4%.

Coinbase ($ 12.5 billion) and Bitfinex ($ 9.35 billion), which ran second and third, trade volumes, on the contrary, increased: minus 2% and 15.2%, respectively.

At the same time, exchanges where trading is exclusively in cryptocurrency pairs accounted for 84% of the total trading volume ($ 497 billion). For exchanges with fiat support, this figure was 16% ($ 93 billion). These data are consistent with the previous two months.

Recall, earlier DataLight analysts said that in relation to the highs of 2017, the volume of trading in bitcoin in the first half of 2019 increased by 1.5 times.

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