Exchange Benchmark June 2019

Report Summary

CryptoCompare’s inaugural Exchange Benchmark was launched in response to industry demand for reliable metrics to evaluate the vast number of cryptocurrency exchanges globally. Employing both a qualitative (due diligence) and quantitative (market quality based on order book and trade data) approach, the product does not hinge on aggregate volume data but, rather, uses correlation-of-volume-to-volatility and standard-deviation-of-volume as inputs to CryptoCompare’s 30+ metrics. This is due to existing issues with volume manipulation, wash trading and trading incentives.

The analysis, based on exchange data for the period 1st-31st May 2019, reveals the most trusted exchanges to be: (1) Coinbase; (2) Poloniex; (3) Bitstamp; (4) bitFlyer; (5) Liquid; (6) itBit; (7) Kraken; (8) Binance; (9) Gemini; (10) Bithumb.

The ranking components include: geography; legal/regulatory; investment; team/company; data provision; trade surveillance; and market quality. Analysis is based on public information, and detailed methodology is made freely available, underlining CryptoCompare’s commitment to bringing greater transparency to the cryptocurrency marketplace.

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