Report: ZB.com, OKEX, Huobi and Binance — TOP 4 Spot Exchanges in Q2 2020
Tokeninsight has ranked large cryptocurrency exchanges for their reliability. Binance, Huobi, OKEx, and ZB.com top the ranking. Also, Binance, Coinbase, OKEx, and ZB.com are TOP 4 cryptocurrency exchanges in terms of web traffic in Q2 2020.
Recently published report from Tokeninsight have revealed the state of the cryptocurrency spot market in the second quarter of this year. For its “Q2 2020 Cryptocurrency Spot Exchange Industry Research Report,” the company studied more than 300 crypto spot exchanges. However, due to unreliable data from some small exchanges and the challenges of determining data authenticity, only 295 exchanges were included in the analysis.
The report reads:
“The total spot trading volume of cryptocurrency in the second quarter of 2020 was $5.44 trillion, down 18% from the first quarter of 2020.”
Crypto trading volume numbers are often exaggerated or faked. Which exchanges have trustworthy trading volume? In order to remove the noise of wash trading volume, TokenInsight uses the following standards for the filtering of key exchanges:
- The spot exchange’s TokenInsight exchange rating needs to be above B;
- In the monitoring results of brushing volume of TokenInsight, the real exchange volume ratio must always be higher than 60% in Q2 2020;
- This spot exchange has public APIs that can be traced back in volume history.
In the end, a total of 11 spot exchanges passed the filtering: Binance, Huobi, OKEx, ZB.com, HBTC, Coinbase Pro, Bitstamp, KuCoin, Gate.io, Kraken and Poloniex.
According to its evaluation, the Top 4 crypto exchanges are Binance, Huobi, OKEx and ZB.com.
Binance saw the largest volume in Q2 2020, followed by OKEX and ZB.com, according to the data. The ongoing battle between ZB.com and OKEx continues.
TOP- 4 Crypto Exchanges Web Traffic in Q2 2020
According to the quarterly report by Tokeninsight for Q2 2020 Binance, Coinbase Pro, OKEx, ZB.com, and Kraken have obtained 77% of independent visitors from key exchanges; these exchanges may have a higher user base and a higher proportion of professional users.
Read the full report to see how all the Top 4 Major Exchange performed.