Cryptocurrency Market Cap Over $1 Trillion - BTC Trading Over $50k.

Cryptocurrency Market Cap Over $1 Trillion - BTC Trading Over $50k.

2021-02-17 | Big Bob

Cryptocurrency Market Cap Over $1 Trillion - BTC Trading Over $50k.

Among 160 different cryptocurrency exchanges analyzed within a recent report, half control roughly 85% of the entire market share. In line with a recent official report by CryptoCompare Research, the exchanges that the analytics firm rated as “top tier” gained 13% of the market share from October 2020 to January 2021. This put the market share of those 84 exchanges at roughly 74%, with over $1 trillion in assets. Moreover, CryptoCompare revealed this percentage likely rose to 85% for January. As long as the entire market capitalization of all crypto assets is $1.47 trillion at the time of reporting, the market share of those exchanges may now be over $1.2 trillion. The report attributed the rise in market share to retail and pro cryptocurrency traders turning to exchanges with seemingly lower risk as the price of the leading cryptocurrency Bitcoin [BTC] surged past $20k earlier in late December last year and $30k later in January. However, one among the more significant reasons for this increased market share could also be CryptoCompare rating 16 more exchanges as “top tier” than in October 2020 - a designation meant to live an exchange's level of risk instead of its superiority. The firm explained that a lot of exchanges are now complying with “toughened” KYC and AML requirements. Many also are offering increased transparency and improving their overall operational status. As per CryptoCompare’s results, 44% of the 160 exchanges analyzed offer the power to “query full historical trade data via a public API endpoint,” compared with 37% in July last year. Additionally, the share of exchanges rated as having “poor or inadequate” KYC systems consistent with CipherTrace fell from 44% earlier in July 2020 to 33% in January. The report specifically mentions Coinbase, Gemini, Bitstamp, Kraken, itBit, and Luno as the "lowest risk exchanges. Others like Binance, FTX, OKCoin, Huobi Global, and Bitfinex are listed within the next "lower tier" category.

Leave a comment

Your email address will not be published. Required fields are marked *

Top 7 cryptocurrency overview

Best trading tool for cryptocurrency

2022 Top cryptocurrency Price Prediction List