On Friday (November 29), CryptoCompare, a leading cryptoasset market data provider, released the October 2019 edition of its Exchange Review, which has the aim of providing an overview of the state of the crypto exchange industry.
CryptoCompare, which was founded in 2014 and is headquartered in London, provides retail and institutional investors with reliable real-time and historical cryptocurrency market data. One way it tries to insure the integrity of its data is by reviewing crypto exchanges on a monthly basis, monitoring for market abuse, and taking regional anomalies and geographical movements into consideration. Two examples of major financial data providers that rely on CryptoCompare are Thomson Reuters and MVIS.
Here are some of the key highlights of the findings of the latest version of CryptoCompare’s Exchange Review:
- 2/3 of total exchange volume in October came from crypto exchanges charging “taker fees” as opposed to those use the “trans-fee mining” (TFM) model as BitForex, FCoin, Coinex, and CoinBene.
- Among the crypto-to-crypto exchanges, the top three exchanges by trading volume in October were BitForex ($34.48 billion, +37.33%), CoinBene ($32.96 billion, +19.65%), and Binance ($30.32 billion, +12.02%).
- The top three fiat-to-crypto exchanges by trading volume in October were P2PB2B ($24.26 billion, +83.23%), Coinsbit ($7.93 billion, 15.87%), and Bithumb ($6.44 billion, -63.65%).
- The largest decentralized exchange (DEX) by trading volume in October was DDEX with $28.89 billion (down 7.41% compared to September). The #2 and #3 decentralized exchanges — IDEX and Bisq — were far behind with trading volumes of $8.8 million and $4.11 million respectively.
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