Cryptocurrency exchanges are a very important element of the cryptocurrency sector as they not only facilitate the sale and purchase of cryptographic assets, but also provide important information on how the sector is moving forward. While there are hundreds of exchanges around the world that offer various features and products, the recent CryptoCompare report provides a consolidated account of how these exchanges are occurring.
Kraken, Bitfinex and Bitstamp continue to remain the most stable exchanges
As part of its monthly exercise, CyptoCompare, recently released relationship on Cryptocurrency Exchange for the month of December 2018 with the objective of reviewing and capturing key developments within the cryptocurrency exchange market. The research conducted attempted to focus on the analysis of trading volumes and included an overview of the current concentration of the foreign exchange market, an analysis of the main volume production jurisdictions, as well as the segmentation of the market for exchange commission model. The results of their report provided an important conclusion that could play a huge role in shaping the future of cryptocurrencies.
According to the report, the cryptocurrency trade market is quite concentrated and almost 60% of spot market volumes come from these 10 major exchanges.
Geographically, most of these volumes come from Malta, the small island nation that hosts some of the great exchanges like Binance and OKEx. Malta is followed by Hong Kong and Samoa that drive global cryptographic volumes. The report notes that, in recent months, the monthly trading volume from Malta has decreased by 9%, while from Hong Kong and Samoa there has been an increase of 2% and 3%.
The exchanges that offered fiat pairs accounted for only 25% of the spot volume in December 2018, while 57% of all fiat trading was made in USD.
As for future trade, the exchange mentioned it
"The proportion of futures trading volume increased from 22% in November to 28% in December.The perpetual volumes of BitMex XBT increased by 17.7% in December, while the future XBTUSDs of CME and CBOE decreased respectively 45.5% and 48.0% from November. Regulated exchanges (CME and CBOE) accounted for only 2.88% of the December futures market encrypted. "
The report also provided an overview of the stablecoins which stated that Tether (USDT) continues to represent the majority of Bitcoin exchanges in fiat or stable currencies at 65% of the total monthly volume in December.
Among the rankings, the top three exchanges that held the Top trading volumes were, Binance followed by OKEX and ZB. CoinBene was the largest TFM stock exchange in December, followed by ZBG and EXX.
Bitfinex, Kraken and Bitstamp maintained the most stable markets in December, while the CoinBene, Bitforex, IDAX exchanges continued their table positions for DEX volumes. Among other parameters, Ethermium, WavesDEX and IDEX occupied the first place to provide most volumes with a DEX.
The analyzes and results provided by the CryptoCompare research highlight some interesting facts that can be decisive in shaping the future of the crypto industry.
Will centralized exchanges continue to govern roast or will DEX take over soon? Let us know your opinions about it