Research Into the Global Crypto Exchange Performance of the Last Month

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Photo: Chain Open Reserach

Photo: Chain Open Reserach

Most would call trading volume the most important indicator for the cryptocurrency exchange. After all, the profit of the exchange is directly proportionate to it. However, such a disposition of the better part of crypto community only serves to further incentivize the already competing exchanges to focus on numbers; sometimes to the point where they start to engage in shady practices or even downright falsify the data in constant pursuit of yet higher figures.

By separating their statistics into five equivalent chapters, Corindex makes a point that all the statistical data regarding the performance of exchanges should be weighed with equal consideration, and must not be considered separately if one is to come to the accurate conclusion.

According to the aforementioned report, Bitmax still leads the trading volume chart with a monthly trading volume of over 100B$, despite the 30% decline compared to the previous month. The trading volume on OKEx, on the other hand, has steadily increased over the course of April and is now $40 646 160 729, almost 20% higher than March’s result.

Negocie Coins, a little known Brasil exchange, is a close third with $39 528 633 469 monthly volume, however, the abnormally high trading volume per visit may indicate that the numbers where somewhat exaggerated, followed by DigiFinex with $36 741 339 192, which also showed a positive trend of 15%, and Binance with $31 872 117 256 and a relatively minor negative dynamics of -4.14%.

Speaking of positive trends, DOBI, Coinegg, and Cointiger boast the best results, with increases in monthly volume of 156.72%, 87.85%, and 79.22% respectively.

Turning to negatives, apart from Bitmax, two other exchanges experienced serious drops in the monthly volumes. These were HitBTC, with April’s trading volume of $23 101 781 035 (-11.1% to March) and ZB with $20 602 703 777 (10.26% decrease)

As for the trading pairs, listings were relatively infrequent in April, with most exchanges showing close to zero fluctuation in the number of coins listed. However, there are a few notable exceptions. RightBTC delisted approx. 25% of all trading pairs and now retains only 52. OEX, on the contrary, has almost tripled the number of pairs available and now sits at 60. DOBI has similarly shown a huge number of listings and almost doubled the number of listed trading pairs bringing the total up to 94.

The amount of traffic is perhaps the fairest judge of the exchange’s success. In the next section, we examine the dynamics in the popularity of the largest trading platforms by comparing the number of their April’s page visits to that of March.

Undeterred by a slight 4.42% decline, Binance dominates the traffic charts with 31 406 435 monthly pageviews. HitBTC occupies a second place with 4 080 000 views – a 7 percent increase to the previous month. P2PB2B and OKEX have very similar numbers of monthly pageviews, 2 090 000 and 2 009 820 respectively, the difference being that P2PB2B has shown an increase of 37.03%, and OKEX – a decline of -11.54%. Bitmax closes the top 5, with 1 573 000 views and a monthly dynamics of +12%.

Cointiger professes some great results, with 214.5% increase, but, the most notable gainer of this month, is, once again, DOBI, which has increased the number of monthly page views by an astonishing 631.45%. As for those quickly losing the favor of the masses, Bitker leads the group; with a dynamics of minus 81.85%, it is now down to 510 average daily visits.

BCEX had also shown a substantial decline of -57.65%, with only 44 985 page views in April. A bit further down sit CoinBene (609 461 monthly visitors) and IDCM (110 346 visitors), both having a negative growth of about 50%. Even further below lay ZB (247 779), Huobi (328 012), and BIT-Z (221 587), all featuring monthly declines of approx. forty percents.

Moving on, the following section is about the Average Trading Volume per Visit, one of the most important indicators for gauging whether the declared data is purposely overblown by the exchanges. It can directly attest that the professed trading volumes are wrong.

Despite, or perhaps even due to the declining numbers of visits, Bitker’s trading volume indicator has increased 591.41%, and now averages 936 858$ per visit, second only to OEX which advertises a colossal 1 170 747$ average trading volume indicator per visit.

Notably, Binance has trading volume per visit of only 1015 USD, 0.28%+ change from the previous month, which is only natural when you take into account their number of users. BCEX has shown strong growth in this section, now having almost triple that of the previous month – close to half million trading volume per visit, which is, by the bye, calculated as Monthly trading volume divided by Monthly visitors.

RightBTC has exhibited a 70% increase compared to previous month, making it the 3rd from the top in the list of exchanges with high average trading volume, and BAW boasts a comparatively modest 259 390$ trading volume per visit, placing it at humble fifth place.

Foreseeably, DOBI, Cointiger, and Bitmax show the biggest declines of -64.9%, -43.01% and -37.63% in this category due to their rapid growth. However, the average trading volumes per visit these exchanges profess are still comparatively huge and amount to 45 599, 39 210 and 66 363 in USD accordingly.

This data was taken from the Corindex monthly report about the cryptocurrency exchanges based on data gathered directly from the largest of them.

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