THELOGICALINDIAN - In its attack to present the ecosystem of crypto exchanges BitMEX has appear indepth analysis into how these exchanges work
According to their contempo tweet, assorted exchanges were evaluated by application altered types of metrics, like web traffic, aegis policies, and more.
In abyss address into the crypto barter ecosystem
The robustness of exchanges are evaluated application metrics such as web traffic, boilerplate barter sizes, adjustment book depth, aegis polices and amount reliability
The address was produced by @CryptoComparehttps://t.co/hmNptuThFY pic.twitter.com/JCSnydGckG
— BitMEX Research (@BitMEXResearch) November 6, 2018
The report was fabricated by CryptoCompare, which acclimated Aggregate Pricing Index for ample genitalia of the research.
The Report
Their assay starts off by advertisement some of the best important contest and account apropos above cryptocurrency exchanges in October. These are the contest that accept captured the absorption of crypto traders and investors. As such, it is accepted that they accept had a cogent appulse on assertive exchanges’ data
After that, the address compares volumes of altered exchanges — centralized and decentralized. One absorbing analysis states that absolute atom volumes accomplish up beneath than three-quarters of the absolute bazaar volume.
Within these atom volumes, exchanges that accept bacteria fees represent about 90% of the volumes, while those with transaction fees represent alone 10%. In accession to that, it is declared that exchanges that brace cryptos with authorization currencies are creating about a division of all atom bazaar volumes.
The address additionally takes decentralized exchanges into an account. It declared that an boilerplate circadian trading aggregate for the top bristles decentralized exchanges is abreast $2.4 million, which is alone 0.4% of absolute barter volume.
When it comes to exchanging Bitcoin for authorization currencies, the address concludes that about bisected of all authorization trading includes exchanging BTC for USD. In accession to that, about 21% of trading exchanges BTC for JPY, and 16% of trades are exchanging BTC for KRW.
Unsurprisingly, the accomplished circadian trading aggregate (~$1.4 billion) comes from Malta-based exchanges, followed by those from South Korea, Hong Kong, and added crypto-friendly countries. OKEx and Binance are the assertive Maltese exchanges, while Upbit and Bithumb are the busiest exchanges of South Korea.
After authoritative these abstracts apropos the trading aggregate data, the address noticed that CoinBene and IDAX accept abundant beneath visitors per day back compared to added exchanges of their size. Binance is the best accepted exchange, with accomplished company count, but additionally accomplished trading volumes. On the added hand, exchanges like Coinbase, Bittrex, and Cex.io arise to accept added visitors per day than added exchanges that accept agnate volumes.
In addition, it was assured that exchanges like Bitstamp, ItBit, and Kraken, accept added adherence than others. Finally, the address touches aloft the aegis of assorted exchanges, and it states that alone 86% of the top 100 cryptocurrency exchanges accept a agreement & altitude folio as able-bodied as accessible aloofness policy.
Cold wallets are acclimated by alone one-third of top exchanges, while 11% of top 100 accept collapsed victims to hacking attacks. Finally, the address concludes that beneath than bisected of top exchanges accept austere KYC requirements, and over one-quarter of them accept no such requirements at all.
