8 Out of the Top 10 Crypto Exchanges Since 2016 Have Been Replaced

To give a perspective on how swiftly evolving the crypto-ecosystem is, 80% of the top cryptocurrency exchanges from 2016 have been replaced. It's not just Altcoins that are prone to volatility, but everything that supports it too.

What The Top 10 Exchange List Looked 2 Years Ago

  1. Bitfinex – 24h trading volume – USD $ 20 million (6th today)
  2. Poloniex – 24h trading volume – USD $ 11 million (33rd today)
  3. Kraken – 24h trading volume – USD $ 8.5 million (12th today)
  4. BTC-E – 24h trading volume – USD $ 5.4 million (dead)
  5. OkCoin Intl. – 24h trading volume – USD $ 5.2 million (134 dead)
  6. itBit – 24h trading volume – USD $ 4.9 million (46th today)
  7. Coincheck – 24h trading volume – USD $ 4.6 million (dead)
  8. Bitstamp – 24h trading volume – USD $ 4.3 million (16th today)
  9. LakeBTC – 24h trading volume – USD $ 3.8 million (73rd today)
  10. GDAX – 24h trading volume – USD $ 3.6 million (10th today)

What The Top 10 Exchange List Looks Like Today

  1. Bitmex -24h trading volume -USD $ 2.4 billion
  2. Binance -24h trading volume -USD $ 1.63 billion
  3. OKEx -24h trading volume -USD $ 1.58 billion
  4. Huobi -24h trading volume -USD $ 1.16 billion
  5. Upbit -24h trading volume -USD $ 629 million
  6. Bitfinex -24h trading volume -USD $ 629 million
  7. Bithumb -24h trading volume -USD $ 521 million
  8. HitBTC -24h trading volume -USD $ 297 million
  9. Bibox -24h trading volume -USD $ 241 million
  10. GDAX -24h trading volume -USD $ 207 million

Just by a glance at the lists we can one thing becomes conspicuous. The rise of Asian based exchanges. It was mostly because countries like Korea, Japan, Hong Kong, Singapore, and India were late to adopt the cryptocurrencies when compared to their western counterparts. Also, the regulations from governments and pushbacks from large financial entities came first in the western countries.

However, the most noticeable part of the difference between 2 years of top exchanges is the meteoric rise of the 24-hour trading volume. The difference in just 2 years of the top crypto exchange in is 120 folds.

Past couple of years have been highly volatile for the crypto-ecosystem, perhaps the most unpredictable time-frame for any financial system in history. Things are settling down now as regulatory entities are taking over the crypto marketplace.

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