Crypto compare a new study of the health state of the Exchange Economy with Bitcoin & co. published The most important results at a Glance.
Half of the Fiat-BTC-trade is the currency pair US Dollar-Bitcoin (50 percent). The Japanese Yen (21 percent) and the Korean Won (16 percent). The Euro makes up only nine percent of the trade volume.
The five largest Exchanges average trading volumes within 24 hours are:
- Binance (977 million dollars)
- OKEx (405 million dollars)
- Bitfinex (323 million U.S. dollars)
- Bithumb (323 million U.S. dollars)
- HuobiPro (310 million dollars)
“The most important stock exchange with a 24-spot trading volume was Binance with an average of nearly 980 million US dollars.”
The trading volume developed compared with the previous month, however, due to grow. While Binance and OKEx suffered a loss of eight or 35 percent, Bithumb a gain of a whopping list of 187 percent.
“The Korean stock exchange Bithumb reported a significant increase in the average trading volume of 96 million U.S. dollars between August/September to 276 million US dollars between September/October.”
The reason is the involvement of BK Global Consortium of South Korea’s crypto stock exchange is according to the study.
Malta on the top spot
In terms of volume of trading there is, however, a European leader to announce. On the island state of Malta, the Bitcoin exchanges to an average of US $ 1.4 billion. So that Malta, as the Exchange site by a nose – by a considerable distance: South Korean stock exchanges to place a daily trade volume of “only” 840 million US dollars.
The peak position of Malta is based on the fact that the world’s largest crypto-exchange Binance is located there. This, in turn, may be due to the tax benefits. Because in the foreign-earned income must not be taxed in Malta even if Malta the company is based.
Like BTC-ECHO reported, it took Binance in March of this year to Europe, after the stock market had fallen out with the Japanese regulatory authorities. The crypto compare report confirms the reputation of Malta, to be a pioneer in terms of crypto adaptation.
Further results of the study at a Glance:
- Eleven percent of the Top Exchanges have been the victim of Hacks
- Decentralized Exchanges make up only 0.4 percent of the trading volume
- Almost half of the Top Exchanges has strict KYC requirements on your customers, a quarter of a waived, however, entirely to
The crypto compare Exchange Review can be found here.