Some Top Crypto Exchanges Seize 96% Market Share in 2022

Some Top Crypto Exchanges Seize 96% Market Share in 2022

As the trading volume in crypto consolidates onto the platforms of only a few reputable organizations, the top centralized cryptocurrency exchanges have achieved all-time highs for market share this year.

According to statistics collected by UK analytics firm CryptoCompare and published on April 11, leading crypto exchanges raised their market share from 89% in August 2021 to 96% in February 2022.

The firm graded over 150 active centralized exchanges on security, number of assets available, regulatory compliance, KYC checks, and other factors, giving them a letter grade ranging from AA to F, with “top tier” obtaining a B or above.

A total of 78 exchanges were given a “top tier” rating, with Coinbase, Gemini, Bitstamp, and Binance being the only four to get an AA.

According to the research, top-tier exchanges traded $1.5 trillion in February 2022, while “lower-tier” exchanges transacted $62 billion. According to CryptoCompare, this metric indicates that “both retail and professional traders are moving to lower risk exchanges.”

Exchange consolidation has occurred as a result of both exchange closures and acquisitions from bigger exchanges. Top crypto exchanges looking to expand internationally occasionally buy smaller, already licensed exchanges operating in the target country, as FTX did with the Japanese Liquid Group exchange on February 2nd, 2022.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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