CryptoCompare’s monthly exchange review takes an in-depth look at the fast-changing landscape of cryptocurrency exchanges – examining an array of features in the space from trading volumes, exchange rankings, geographical distribution, news, fiat support to areas of exchange innovation such as Trans-Fee mining and decentralised exchanges.
Here are some interesting takeaways from this month’s report:
CCAGG Exchanges by 24H Volume
Current CCCAGG Constituent Exchanges, Sized by 24H Volume
One particularly interesting chart in the review shows the world’s leading cryptocurrency exchanges sized by their average 24-hour volume in August. While there are few surprises with respect to the leading exchanges, it is interesting to note the continued high-volumes of the controversial Trans-Fee mining exchanges such as CoinBene and CoinEx.
These exchanges appear in the review in orange to indicate that their pricing data is excluded from CryptoCompare’s CCCAGG Index: CCCAGG is a real-time aggregated index calculation methodology used to calculate the best price estimation of cryptocurrency pairs traded across exchanges. However, this pricing data can vary by exchange for a variety of reasons, and therefore evaluating each exchange and whether pricing or volume data should be excluded or included in calculations becomes important. See the report for more
Proportion of Fiat-Crypto Trading by Fiat Currency
Another interesting chart shows the proportion of different fiat curencies that comprise crypto-fiat trading value globally. Interestingly, Korean Wong (KRW) comprise a significant proportion of global fiat trading, despite the ongoing – albeit reduced – “Kimchi Premium” on purchases of cryptocurrencies in South Korea.
August Exchange News Roundup
|Bithumb||Bithumb Reopens New Account Registration||29th Aug|
|HuobiPro||Crypto Exchange Huobi Announces Five Partnerships to Further Its Expansion Efforts||18th Aug|
|Binance||Binance Partners with LCX to Offer a Fiat-to-Crypto Exchange in Blockchain-Friendly Liechtenstein||17th Aug|
|Bittrex, Bitso, Coins.ph||Ripple Partners with Three Crypto Exchanges as Part of XRapid Solution||16th Aug|
|Coinbase||Coinbase announces acquisition of small San Francisco-based Startup called Distributed Systems||15th Aug|
|Kucoin||Kucoin’s Hong Kong Office Reportedly Empty||10th Aug|
|Bittrex||Crypto Exchange Bittrex Launching USD Markets for XRP and ETC||8th Aug|
|Bithumb||Hacked Cryptocurrency Exchange Bithumb Reopens Deposits and Withdrawals||4th Aug|
|Coinbase||Coinbase Adds Support for GBP Deposits and Withdrawals||2nd Aug|
|Binance||Binance Buys Decentralized Trust Wallet||1st Aug|