The share of exchanges with a high reliability rating in the total volume of cryptocurrency trading in September amounted to only 21%.
In September, Lower-tier exchanges graded D-E still dominated - representing 71.0% of the #crypto spot market combined (347.2 billion USD). Meanwhile, AA-graded exchange volume decreased 31.6%... Read our new September Exchange Review here... https://t.co/grZ23Xyu1W #bitcoin pic.twitter.com/UffsEOLRFR
— CryptoCompare (@CryptoCompare) October 21, 2019
The share of high-rated exchanges in the total trading volume ($ 489 billion) for September amounted to:
- AA - 3% ($ 14.87 billion);
- A - 14.3% ($ 71.98 billion);
- B - 4.7% ($ 23.86 billion).
The greatest activity was provided by D-E class exchanges with 71% ($ 347.2 billion).
According to CryptoCompare, this is what the top three looks like:
- BitMax (rating D) - $ 28 billion;
- ZB (E) - $ 26.9 billion;
- Binance (A) - $ 26.19 billion
Among cryptocurrency exchanges, the largest trading volume for September was recorded on South Korean Bithumb (A) - $ 17.7 billion.
At the same time, in the same month, the trading volume on the floors of classes AA, A and B (according to the Exchange Benchmark rating system) decreased by 15%, and on platforms with C-F ratings - by 29.7%.
The average transaction size on low-rated sites exceeded the performance of high-class exchanges.
Earlier specialists at Bitwise Asset Management came to the conclusion that 95% of the trading volume on unregulated bitcoin exchanges is fake. After some time, they noted signs of market recovery.