• Coinbase (NASDAQ :), Gemini and Bitstamp were all awarded an AA rank.
• Exchanges’ market share rose from 89% in July 2021 to 91% in August 2022.
• The top-tier exchanges were worth $1.5 trillion while the lower-tier ones traded $62 billion.

According to CryptoCompare’s Exchange Benchmark, Coinbase is the highest-graded crypto exchange followed by Gemini, Bitstamp, and Binance. These exchanges were awarded an AA rating.

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Exchange Benchmark analyzed over 150 active, centralized exchanges. The Exchange Benchmark categorized these exchanges into five categories. These were based on various factors, including security, availability, KYC checks and regulatory compliance. A grade of B was given to top-tier exchanges.

Charles Hayter, CEO of CryptoCompare and co-founder said the following:

“As the digital asset ecosystem continues to mature, it is important that market participants can reliably identify the lowest risk trading venues. Our Exchange Benchmark is an invaluable tool for funds, service providers, regulators, and investors who are looking to gain a better understanding of the global digital asset exchange”.

Only 78 of the total number achieved this designation. Coinbase, Gemini and Bitstamp were also the only ones to receive the above rating.

As a result, all of the major centralized cryptocurrency exchanges managed to achieve unprecedented market share levels this year. CryptoCompare observed this trend starting in 2021. In August 2021 for instance, the market share of top-tier exchanges grew from 89% (based on August 2020 rankings) to 91%.

These top-tier exchanges were worth $1.5 trillion in February 2022. Lower-tier exchanges traded $62 billion. According to the crypto analytics firm, this indicator shows that “both retail and professional traders are moving to reduced risk exchanges.”

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