CryptoCompare’s Exchange Review covers exchange rankings by volume; country analysis and predominant fee type model; derivatives and institutional products; fiat, bitcoin and stablecoin volumes. It is also focused on how volumes have developed historically for the top trans-fee mining and decentralised exchanges.
- Country Analysis: Malta-registered exchanges represented the majority of trading volume, followed by those legally registered in Hong Kong and South Korea. Monthly trading volume from Malta-registered exchanges increased 56% since February, while that of Hong Kong and South Korea-registered exchanges increased 54% and 21% respectively.
- Crypto Exchange Derivatives: OKEx* traded the highest average daily derivatives volume in March (swaps and futures) at 1.5 billion USD, followed by Bitflyer Lighting (XBTJPY perpetual futures) at 1.14 billion USD and BitMEX (XBTUSD perpetual futures) at 645 million USD. Exchanges Deribit (73.6 million USD) and CryptoFacilities (26.1 million USD), still represent only a small proportion of this derivatives volume sample.
- Fiat Capabilities: March saw a sharp increase in volume from crypto to crypto exchanges. Trading volume from exchanges that offer only crypto pairs increased by 70% (267 billion USD) since February, while those that offer fiat pairs decreased 8% to 58 billion USD. Following this increase in crypto to crypto trading volume, crypto to crypto trading volume represented 82% of total spot volume in March, up from from 71% in February.
Explore the full Exchange Review report for more data.