London, 22nd January 2020: CryptoCompare, the global leader in digital asset data, today released its Exchange Review for December 2019. The research provides analysis of key developments in the cryptocurrency exchange-traded market.
Charles Hayter, Co-Founder and CEO of CryptoCompare, said:
“Our monthly Exchange Review offers traders, investors, regulators and service providers a reliable tool for monitoring activity in the cryptocurrency exchange-traded market. There has been significant focus over the past year in bringing greater rigour and transparency to the information available in the digital asset industry and we are pleased to provide market participants with high quality data and analysis.”
CryptoCompare’s Exchange Review evaluates the monthly trends in exchange volume and assesses exchanges based on spot 24-hour volume, derivatives volumes and pricing data. The report covers: exchange rankings by volume; predominant fee types; derivatives data; derivative products; fiat, bitcoin and stablecoin volumes. It also provides an overview of the month’s most important exchange news and analyses how volumes have developed for the top trans-fee mining and decentralised exchanges.
Key highlights for December:
Binance has become a major derivatives player since launching its futures products in September.
- Binance’s BTC perpetual future is now the third most traded product by total monthly volume at $29.4bn.
- BitMEX and Binance represent the majority of the ETH perpetual futures market volume at $117.7m (44%) and $61.8m (23%) per day respectively on average.
The most traded products by total monthly volume were BitMEX’s BTC perpetual future ($53.1bn) and Huobi’s quarterly BTC future ($42.4bn), followed by Binance’s BTC perpetual future ($29.4bn).
- On average, these three products traded $1.7bn, $1.3bn and $948m per day.
OKEx was the top derivatives exchange in US Dollar terms, trading a total of $99.6bn (up 11% month-on-month).
- This was followed by Huobi and BitMEX with trading volumes of $76.5bn (down 80% month-on-month) and $53.1bn (down 28.8%) respectively.
On aggregate, volume from top-tier exchanges* (AA-B) decreased 26.26% while volume from low-tier exchanges (C-F) decreased 19.9%.
- Aggregate top-tier exchange volume still only represents 27.4% of the total market.
Bitforex was the top crypto to crypto exchange by total volume at $35.64bn (up 5.37% since November).
- This was followed by CoinBene and LBank at $27.3bn (down 11.57%) and $25.58bn (down 9.83%) respectively.
The CME still dominates regulated bitcoin derivatives product volumes, but total trading volumes fell 6.2% to $3.96bn.
- CME’s bitcoin futures product volumes slipped from a total of $4.22bn in November to $3.96bn. Meanwhile, Grayscale’s bitcoin trust product (GBTC), fell 19.6% to $394.72m.
The full December Exchange Review can be found here.
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CryptoCompare is the global leader in digital asset data. Institutional and retail investors rely on the company for real-time, high quality data spanning 3,200+ coins and 150,000+ currency pairs. By aggregating and analysing tick data from globally recognised exchanges and seamlessly integrating multiple datasets, CryptoCompare provides a comprehensive, granular overview of the market across trade, order book, historical, social and blockchain data. For more information, please visit https://data.cryptocompare.com