- June 9, 2024
- Posted by: legaleseblogger
- Category: Related News
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Crypto Exchange Binance Leading in Liquidity Rankings
Crypto exchange Binance continues to dominate in terms of liquidity, according to a recent report from digital asset analytics firm Kaiko. In the report, Kaiko ranks the top ten crypto exchanges based on liquidity, with Binance taking the top spot, followed by Bybit and Coinbase.
By offering superior trading conditions such as reduced slippage and lower execution risk, liquid exchanges play a crucial role in the cryptocurrency market. Kaiko has developed a liquidity score for this quarter’s exchange ranking, considering five metrics including volume and market depth.
Despite being the largest exchange globally, Binance falls short in additional factors like governance scores when compared to top competitors like Coinbase and Bitstamp.
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Kaiko determines its liquidity rankings by analyzing a mix of factors such as trading volume, share of volume, market depth, coefficient of variation dispersion score, and market quality score. In the first quarter of this year, Binance stood out with the highest trading volume.
Despite ranking second in trading volume, Upbit finds itself at the bottom of the overall ranking due to a lack of transparency compared to Binance.
While Binance leads in both liquidity and average trading volume over the quarter, Upbit follows closely. However, Upbit’s low business score places it at the 10th spot in the ranking. The Korean exchange’s executive team remains largely unidentified compared to other top exchanges.
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