Recent information from market expert company CryptoCompare reveals that the leading 6 cryptocurrency exchanges, according to the business’s analytical design, was accountable for a three-year high in area volume throughout the month of August.
The metric grades all cryptocurrency exchanges throughout a wide variety of locations — consisting of legal/regulatory cases, information arrangement, security and market quality, to name a few — and ranks them in a list appropriately.
Popular exchanges Coinbase, Gemini, Kraken, CrossTower, Bitstamp and itBit all got AA grading status within the August duration with a rating varying 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 information exposed that Binance reported a 65% boost in 3-month area volume with a leading figure of $751B, impressive regulative issues in many worldwide jurisdictions indicated that the exchange was a plain omission from the above list, ranked in the 23rd position with a rating of 65.12.
Related: Coinbase prepares to raise $1.5B by means of financial obligation offering
The world’s biggest crypto exchange by volume trading was docked points in locations of property quality/diversity, along with unfavorable reports, however carried out fairly well in information arrangement and joint-third for security.
Two months earlier, Binance was purchased by the United Kingdom’s Financial Conduct Authority (FCA) to suspend all trading activity till an examination into the exchange’s authorization license and subsequent trading operation is sufficiently concluded.
In reaction, the exchange revealed that “the FCA UK notification has no direct influence on the services supplied on Binance.”