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Exchange Benchmark - November 2024
CoinDesk Data's Exchange Benchmark is the industry standard for ranking the risk associated with the digital asset exchange sector. The report is backed by thousands of hours of research and encompasses more than 100 qualitative and quantitative metrics.
What to know:
CoinDesk Data's Exchange Benchmark brings transparency and accountability to the digital asset exchange sector. The report is updated twice annually to reflect the fast-changing digital asset landscape and is backed by thousands of hours of research and encompasses more than 100 qualitative and quantitative metrics.
Key findings:
- Among the 81 spot exchanges evaluated, 16 achieved Top-Tier status (BB+ rating), representing 22% of the exchange landscape—a slight decrease from the 19 exchanges in the previous report.
- Top-Tier Exchanges Continue to Dominate Trading Volume: Though comprising only ~20% of spot exchanges, Top-Tier exchanges command over 60% of the current trading volume, driving an average monthly volume of $850bn out of $1.4tn from April - October 2024.
- Among the 84 exchanges assessed, KYC requirements vary significantly. Only 23% require Source of Funds verification, and 29% require Proof of Address. While over 50% of Benchmark exchanges implement at least one stringent KYC check, a notable 26% lack any KYC requirements.
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CoinDesk Data
Market-leading digital asset data, providing an unrivaled level of insight and analysis to meet the demands of institutional-grade users.
