Cryptocurrency analysis company Kaiko has recently released a report ranking the most powerful cryptocurrency exchanges based on their liquidity and volume. According to their scoring system, Binance emerged as the leader in liquidity among 43 exchanges surveyed in Q2 2024. Surprisingly, the South Korean exchange Upbit, despite ranking 10th in the list, has a low activity score compared to its high volume and is managed by only one person.
Binance, offering a wide range of assets, has a trading volume four times higher than Upbit, which only offers half as many assets. This diversity of assets on Binance contributes to its high volume and liquidity rankings. However, when factors like governance scores are considered, Binance falls behind Coinbase and Bitstamp, ranking third among its competitors.
In terms of market depth, LMAX stands out for its enterprise focus, allowing the trading of only 5 altcoins spot. For those interested in investing in over 300 cryptocurrencies, Binance offers a 20% commission discount to new registrants. Stay updated with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.
