New BitMEX Research Study Evaluates Crypto Exchange Metrics And Usability Via CryptoCompare
Latest BitMEX Research Study Evaluates Usability Of Various Crypto Exchanges Based on Certain Niche’ Criteria
According to an in-depth report published by BitMEX, the blockchain research firm has closely studied the workings of various crypto exchanges (across the globe) and how they fare in terms of their overall usability and functionality.
It is also worth mentioning that a large part of the research has been done using the Aggregate Pricing Index— a tool that is often deployed when conducting such a study.
A Detailed Look At The Matter
The study starts off by listing some of the major events that have surrounded various crypto exchanges all through October. As such, these events are touted to have an impact on the the viability of certain trading platforms.
Some of the other key aspects of the study include:
(i) Trade Volume: Another area that BitMEX’s research focuses on is the regular trade volume of various centralized and decentralized exchanges. To further expound on the matter, a finding within the study states the “total spot volume” of today’s premier trading platforms makes up less than three-quarters of the total market volume.
(ii) Transaction Rates: Depending upon the aforementioned spot volumes, the study notes that various exchanges that employ a ‘taker fees’ represent around 90% of the said volume, whereas those that use ‘transaction fees’ represent only 10% of the entire volume.
(iii) Transaction Parity: The report found that the average daily trading volume for the top five decentralized exchanges stands at around the $2.4 million mark (which is around 0.4% of the daily global crypto exchange volume).
(iv) Ease of Fiat Use: A core evaluation criterion laid out by BitMEX was whether the exchanges being studied allow for fiat enabled trading (For example BTC for USD, BTC for JPY).
It comes as no surprise that the highest daily trading volume (~$1.4 billion) comes from Malta, followed by S.Korea. The report shows that OKEx and Binance are currently the leaders when it comes to daily crypto business. They are followed by other smaller exchanges like Upbit and Bithumb.