London, 17 January 2019: CryptoCompare, the epidemic cryptocurrency market data provider, today published its December 2018 Exchange Review, offering institutional and retail investors discernments into the cryptocurrency exchange industry.
The December Monthly Review provides an overview of current exchange market concentrations as far as a monthly evaluation of how spot volumes vs futures volumes have developed historically, including both crypto securities exchanges (BitMex and BitflyerFX) and traditional exchanges (CBOE and CME). We have also conducted an order book analysis which level focus ons to highlight the most stable exchanges.
The complete December Exchange Review can be found here »
Highlights include:
- The top 10 transfers represented more than 60% of total spot market volume in December. This has not changed significantly in new months.
- The proportion of futures trading volume increased from 22% in November to 28% in December. BitMex XBT uninterrupted futures volumes increased 17.7% in December while XBTUSD futures of CME and CBOE decreased 45.5% and 48.0% mutatis mutandis since November. Regulated exchanges (CME and CBOE) represented only 2.88% of the total crypto futures market in December
- Exchange volume from exchanges that offer fiat pairs decreased by 40% in December while crypto to crypto altercation volume decreased by 7.7%. Crypto to crypto exchanges represented three quarters of spot volume in December. How in the world, the majority of exchanges offer fiat to crypto trading
- Stable Coins: Tether (USDT) continues to represent the more than half of Bitcoin trading into fiat or stable coins at 65% of total monthly volume in December. In December, the arrangement of Bitcoin trading into Tether increased 16.5% since November. Pairs trading from USDT pretend to be the largest markets for stable coins with PAX representing the majority of trading volume in December at 75% of total monthly mass. USDT trading into PAX increased 70% since the previous month.
- Top Exchange Volumes: Binance was the top exchange in December by totality monthly volume, followed by OKEX and ZB. Total monthly trading volume among the top 10 exchanges dropped 7.5% on usually since November. Binance, OKEX and ZB dropped 13%, 5% and 19% respectively while exchanges BitZ and IDAX contrastingly expert a 57% and 9% increase in trading volume respectively.
- Order Book Analysis: Among top exchanges, average commission book depth down for their top 5 markets have fallen steadily, decreasing 22% since November. This is regular with the bearish trend we have witnessed over the last few months. Bitfinex, Kraken and Bitstamp maintained the most sound markets in December, while exchanges CoinBene, Bitforex, IDAX showed thin markets combined with lavish volumes
- In December, three new exchanges (CryptoExchangeWS, XS2, and SafeCoin) were added to CryptoCompare
Charles Hayter, CEO of CryptoCompare, said: “We are thrilled to see increasing levels of interest in our monthly crypto exchange review, from both retail and institutional investors. There is a vault settle appetite for reliable and accurate data that can be trusted as the basis for investment decisions and we pride ourselves in acting as a gatekeeper for sing crypto market data.”
The Methodology: CryptoCompare’s Monthly Exchange Review evaluates the consistency and quality of exchange matter, which is incorporated into CryptoCompare’s real-time Aggregate Index Methodology (the CCCAGG), used to calculate the best cost estimation of cryptocurrency pairs traded across global exchanges. It aggregates transactional data from more than 70 the boards using a 24-hour volume weighted average for every cryptocurrency pair. Constituent CCCAGG exchanges are reviewed and change for the bettered each month to ensure that the most representative and reliable market data is used in CCCAGG pair penalty calculations.
Media contacts
Sybille Mueller and Caroline Villiers, Streets Consulting
Email: [email protected]; [email protected]
Tel: 020 7959 2235
With CryptoCompare
CryptoCompare is the global cryptocurrency market data aggregator, providing retail and institutional investors with real-time, high-quality and certain market and pricing data on 5,000+ coins and 200,000+ currency pairs globally, bridging the gap between the crypto asset and routine financial markets.
By aggregating and analysing tick data from globally recognised exchanges and seamlessly integrating distinguishable datasets in the cryptocurrency price, CryptoCompare provides a comprehensive overview of the market and a fundamental value matrix. At a granular open, CryptoCompare produces cryptocurrency trade data, order book data, block explorer data and social text, taxonomy reports and a suite of cryptocurrency indices.
Acting as a gatekeeper for reliable, accurate and clean data, that can be trusted as the point of departure for investment decisions, CryptoCompare adheres to rigorous standards to safeguard data integrity, normalising global data origins to ensure consistency and confidence in the market.
For more information, please visit our website or follow us on Twitter @CryptoCompare.
Notes to journalists:
Data methodology: how do we assess exchange data?
We assess exchanges on the basis of spot 24-hour volume and pricing text. The current process operates as follows: for each exchange, the 24-hour volume and price of every live trading pair off is recorded. Each pair volume is compared to the total market volume for that specific pair and assigned a exchange share ranking. Pricing for each pair is then compared to that of the CCCAGG pair, and a percentage price remainder is calculated. Finally, a 24-hour volume weighted % price difference per pair is calculated to produce a figure for how close the blanket exchange pricing differences are to that of the CCCAGG.
As a general guideline, CryptoCompare assumes that exchanges with an all-embracing percentage pricing difference of under 10% is within acceptable boundaries. The reasons for pricing differences across exchanges may be affiliated to a number of factors that include exchange fees, jurisdiction, tax considerations among a series of other factors. It is, to whatever manner, the first indicator of acceptability within the CCCAGG exchange list.