15 Biggest Cryptocurrency Exchanges in the World – Yahoo Finance

Posted under Cibercommunity, Technology On By James Steward

In this article, we will discuss the 15 biggest cryptocurrency exchanges in the world. If you want to skip our detailed analysis of the cryptocurrency exchange platform industry, you can go directly to 5 Biggest Cryptocurrency Exchanges in the World.
Cryptocurrency exchanges are platforms that allow users to buy, sell, or trade digital assets in exchange for other assets, such as fiat currencies or other digital currencies. Cryptocurrency exchanges can be centralized, where there is an entity that manages the platform and holds the user’s assets, or decentralized, where the platform is run by the users themselves. Cryptocurrency exchanges typically charge a fee for each transaction and facilitate the buying, selling, or trading of digital assets such as Bitcoin, Ethereum, Litecoin, and others.
Sam Bankman-Fried is an MIT graduate, former billionaire, and former CEO of FTX, a cryptocurrency exchange based in the Bahamas that is now filing for bankruptcy. Sam Bankman-Fried founded FTX in 2019 and quickly grew it to one of the largest cryptocurrency exchanges in the world through strategic M&A and collaborations. The business was booming for FTX and the company had gained the attention of leading financial institutions including Blackrock, Tiger Global Management, and Sequoia Capital. FTX also engaged in aggressive marketing strategies and had celebrities including Tom Brady, Shaquille O’Neal, and Stephen Curry invest in and promote its platform.
On November 2, CoinDesk published an article that triggered a chain reaction, bringing FTX and Alameda Research to file for chapter 11. Alameda Research, also founded and led by Sam Bankman-Fried, is a quantitative cryptocurrency trading firm. According to the company’s balance sheet, Alameda Research had $14.6 billion worth of assets, a majority of which was FTT tokens. FTT tokens are minted by FTX, and compared to other cryptocurrencies, have little transparency which makes them difficult to track and regulate. When Alameda’s balance sheet was disclosed, on November 6, Changpeng Zhao, CEO of Binance, announced that Binance will sell all its FTT tokens. This caused the price of FTT to tank significantly and resulted in the insolvency of Alameda Research. On November 8, Binance announced that it would acquire FTX to pull it out of bankruptcy. However, on November 9, Binance backed out of the deal citing the mishandling of consumers’ funds by FTX to be the reason. On November 11, the Wall Street Journal reported that FTX used billions of dollars of clients’ funds to place risky bets via Alameda Research. Both FTX and Alameda Research have now filed for bankruptcy and the exchange’s implosion has wiped out $152 billion from the world’s 15 largest cryptocurrencies’ market value. The Financial Times has called this event “crypto’s Lehman moment”.
According to a report by Grand View Research, the global cryptocurrency exchange industry was worth $30.18 billion in 2021. The industry is expected to reach a value of $37.07 billion by the end of 2022 and then grow to $264.32 billion by the end of 2030, registering a compound annual growth rate of 27.8% from 2022 to 2030.  This growth is primarily attributed to the rising acceptance and adoption of cryptocurrencies and non-fungible tokens (NFTs), which are expected to fuel the demand for cryptocurrency exchanges worldwide. Moreover, investments in the research and development of blockchain technology are expected to further advance the growth of the global cryptocurrency exchange platform industry.
End-use-wise, the commercial segment dominated the global cryptocurrency exchange market and held a 68.20% revenue share in 2021. This is attributed to the fact that a majority of financial institutions and businesses are becoming inclined towards offering crypto trading services on their own platforms and are exploring strategic collaborations with prominent cryptocurrency exchange platforms. Some of the top financial services companies that are prominent backers of blockchain technology and are exploring collaborations with cryptocurrency exchange platforms include Mastercard Incorporated (NYSE:MA), Visa Inc. (NYSE:V), and Paypal Holdings, Inc. (NASDAQ:PYPL). Moreover, the personal-use segment is expected to grow at the fastest compound annual growth rate through the forecasted period, due to an influx of crypto traders from emerging markets.
Region-wise, North America held the dominant market share and accounted for over 29% of the global cryptocurrency exchange market’s revenue in 2021. However, the APAC region is expected to grow at the fastest rate through the forecasted period due to the rising popularity and adoption of cryptocurrencies in emerging markets, for instance, China and India.
According to CoinMarketCap, as of November 23, 2022, there are over 21,000 cryptocurrencies in circulation that hold a total market capitalization of more than $824.8 billion and have a 24-hour trading volume of roughly $60.12 billion. Currently, there are more than 500 operational cryptocurrency exchanges. This article will discuss in detail some of the biggest cryptocurrency exchanges in the world.
Photo by André François McKenzie on Unsplash
Our Methodology
To determine the biggest cryptocurrency exchanges in the world, we reviewed industry analysis reports and identified prominent cryptocurrency exchange platforms. We then tallied our findings with CoinMarketCap’s cryptocurrency exchange rankings, which score cryptocurrency exchanges based on a variety of metrics including traffic, liquidity, and trading volumes. Moreover, CoinMarketCap also gives weight to the credibility of reported data from exchanges and assigns its own score to exchanges based on both quality and quantity metrics. We picked CoinMarketCap’s highest-scoring exchanges for this list and arranged them according to their 24-hour volumes, from least to most. Here is our list of the biggest cryptocurrency exchanges in the world, by volume, as of November 23, 2022.
Volume (24-Hours): $29.3 Million
bitFlyer is a Japanese Bitcoin and cryptocurrency exchange. It was founded in 2014 by Yuzo Kano. bitFlyer is among the largest Bitcoin exchanges in Japan, and one of the largest cryptocurrency exchanges in the world. bitFlyer has over 3 million users across the globe and had a global trading volume of EUR 180 billion in 2021. bitFlyer allows users to buy and sell Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. The exchange also supports fiat currencies including JPY, USD, and EUR. It also offers a suite of cryptocurrency-related services, including a wallet and a prepaid debit card. The exchange’s 24-hour volume on November 23 was reported to be roughly $29.3 million.
Volume (24-Hours): $30.5 Million
Coincheck is a Japanese bitcoin exchange and one of the country’s leading cryptocurrency exchanges. The platform allows users to buy, sell, and trade a variety of digital assets, including Bitcoin, Ethereum, XRP, and SAND among others. Coincheck also offers a variety of services, such as a wallet service and a remittance service. Coincheck is ranked among the biggest cryptocurrency exchanges in the world and has roughly 1.62 million verified users across the globe. As of November 23, the exchange’s 24-hour trading volume sits at $30.5 million. Coincheck allows support for only JPY.
Some of the payment giants that are betting big on the future of blockchain technology and digital assets include Mastercard Incorporated (NYSE:MA), Visa Inc. (NYSE:V), and Paypal Holdings, Inc. (NASDAQ:PYPL).
Volume (24-Hours): $33.3 Million
Gemini is a centralized digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as Bitcoin and Ethereum. Founded in 2014 by brothers Cameron and Tyler Winklevoss, Gemini is a regulated and licensed exchange that is available across the United States and in more than 60 countries. Gemini allows users to trade over 100 cryptocurrencies and offers support for 7 fiat currencies including GBP, USD, and EUR. The exchange has over 13 million users across the globe and is one of the biggest cryptocurrency exchanges in the world. As of November 23, Gemini has a 24-hour trading volume of $33.3 million.
Volume (24-Hours): $145.4 Million
Bitfinex is a digital asset trading platform and one of the first professional platforms set up to accommodate the booming interest in cryptocurrency trading. Bitfinex was founded in 2012, initially as a Bitcoin trading exchange. Since then, Bitfinex has become the world’s largest and most advanced digital asset trading platform, offering users a suite of order types and trading features that are constantly being developed with the client’s needs in mind. The platform offers a variety of services including crypto trading, peer-to-peer margin trading, and OTC trading among others. As of November 23, Bitfinex has a 24-hour volume of $145.4 million and offers 174 crypto assets to trade on its platform. Bitfinex is ranked among the largest cryptocurrency exchanges in the world.
Volume (24-Hours): $175.4 Million
Bitstamp is a cryptocurrency exchange based in Luxembourg. It was founded in 2011 by Nejc Kodrič and Damijan Merlak. Bitstamp is one of the oldest bitcoin exchanges. The platform allows users to buy and sell bitcoins using various fiat currencies including USD, EUR, and GBP, as well as other cryptocurrencies. The platform offers support for over 70 cryptocurrencies. The platform has roughly 4 million users across the globe and is one of the biggest cryptocurrency exchanges in the world with a prominent presence in over 100 countries. As of November 23, Bitstamp has a 24-hour trading volume of $175.4 million.
Volume (24-Hours): $274.4 Million
Binance.US is a cryptocurrency exchange that was launched in 2019 due to regulations that restricted Binance in the United States. The company is headquartered in Palo Alto, California. Binance.US allows users to trade cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and others, with US dollars. The platform is designed to provide a fast, secure, and reliable experience for advanced and beginner traders. Binance.US is a part of the larger Binance ecosystem, which includes the world’s largest cryptocurrency exchange by trading volume. As of November 23, the platform has a 24-hour trading volume of $274.4 million and is one of the largest cryptocurrency exchanges in the world.
Volume (24-Hours): $513.9 Million
Bybit is a centralized cryptocurrency trading platform that offers over 100 cryptocurrencies to trade including Bitcoin, Ethereum, and Litecoin. The company is headquartered in Singapore and was founded in 2018. Bybit has a user base of over 10 million users and offers contracts across Spot and crypto derivatives like Futures and Options, launchpad projects, earn products, and an NFT Marketplace among others. Bybit is one of the largest cryptocurrency exchange platforms in the world and has a 24-hour trading volume of $513.9 million, as of November 23.
Volume (24-Hours): $549.3 Million
Bitget is a digital asset trading platform launched in 2018. The platform offers spot and margin trading for a variety of digital assets including Bitcoin, Ethereum, Litecoin, and more. Bitget also offers a variety of tools and features for traders including a mobile app, advanced charting, and more. Bitget has over 2 million verified users across the globe and is ranked among the biggest cryptocurrency exchange platforms in the world. As of November 23, the platform has a 24-hour trading volume of $549.3 million and offers over 390 cryptocurrencies to trade.
Volume (24-Hours): $556.2 Million
KuCoin was founded in 2017 in Victoria, Seychelles, and offers users a convenient and easy-to-use platform to buy and sell digital assets. KuCoin also provides a mobile app for trading on the go. KuCoin has a wide range of digital assets available for trading, including Bitcoin, Ethereum, Litecoin, and a variety of altcoins. The exchange offers over 760 digital assets to trade and also provides a variety of unique features, such as a built-in wallet and a news aggregator. KuCoin is one of the most user-friendly exchanges in the market, and its customer service is excellent. The platform has over 20 million users across the globe and is ranked high among the largest cryptocurrency exchange platforms in the world, with a 24-hour volume of $556.2 million, as of November 23.
Volume (24-Hours): $774.3 Million
Kraken is a US-based cryptocurrency exchange, founded in 2011. The exchange offers a wide variety of digital assets to trade, including Bitcoin, Ethereum, Litecoin, and Ripple, among other digital tokens. Kraken is one of the oldest and most well-known cryptocurrency exchanges in operation today. The exchange is known for its low fees, advanced trading features, and security. As of November 23, Kraken has a 24-hour trading volume of $774.3 million and is ranked among the biggest cryptocurrency exchanges in the world. The platform has more than 9 million users.
Prominent backers of blockchain and cryptocurrencies include Mastercard Incorporated (NYSE:MA), Visa Inc. (NYSE:V), and Paypal Holdings, Inc. (NASDAQ:PYPL).
 
Click to continue reading and see 5 Biggest Cryptocurrency Exchanges in the World.
 
Suggested articles:
15 Companies That Accept Bitcoin as Payment
11 Best Bitcoin Stocks To Buy
20 Most Profitable Franchises To Own
Disclosure: None. 15 Biggest Cryptocurrency Exchanges in the World is originally published on Insider Monkey.
Related Quotes
Wake up and smell the diesel.
Sam Bankman-Fried's ambition for celebrity endorsements might have snared the "Anti-Hero" singer, but she proved to be smarter than a lot of other famous people.
Worried about the prospect of a recession coming next year? Well, that sounds like a mild scenario, if Michael Burry’s prognosis is anything to go by. The investor whose famous bet against the US housing market was documented in “The Big Short,” thinks a ‘multi-year recession’ is potentially in the cards – and one more severe than currently expected. This statement follows previous warnings regarding the economy, such as predicting last year that the ‘mother of all crashes’ is coming, while also
Earlier this year, in May, claims were made that Microsoft Corp co-founder Bill Gates owned the majority of America’s farmland. While that is false, with the billionaire amassing nearly 270,000 acres of farmland across the country, compared to 900 million total farm acres, a different billionaire privately owns 2.2 million acres, making him the largest landowner in the U.S. John Malone, the former CEO of Tele-Communications Inc., which AT&T Inc. purchased for more than $50 billion in 1999, has a
Nio will need to show record monthly vehicle deliveries in December by a large margin to hit even the low end of its prior estimates.
The rollercoaster ride continues in the stock market, and equities have been falling across the board this week. The S&P 500 is down 3.5%, and the Dow has lost some 870 points. The market drop was fueled by uncertainty; recent economic data has been unexpectedly positive, and it’s clouded the forecast for the Fed’s interest rate decision next week. The central bank’s twin mandates, to rein in inflation and to moderate unemployment, frequently run counter to each other, and with inflation running
Will there be a new beginning?
All of the major indexes fell into bear market territory at various points this year with the Nasdaq Composite taking one of the bigger hits. Many Wall Street experts expect the bear market, or at the very least a correction, to stay with us well into 2023 as a recession looms. Analysts at Bank of America (NYSE: BAC) said the S&P 500 could fall to 3,240 by April, which would be a roughly 18% decline from current levels, before climbing back to around 4,000 by the end of the year — which is essentially where it is now.
Apparently, misery does not always like company. About a year in the making, Credit Suisse is on the verge of being able to sue embattled Japanese…
Should investors prepare for a winter full of persistent headwinds? Inflation remains high, rising interest rates are putting a squeeze on capital as well as making consumer credit more expensive, and both the China COVID lockdowns and the Russian war in Ukraine continue to crimp global supply chains. But even though the markets are facing serious headwinds, not every stock is going to react by falling. According to the analysts at Wall Street giant Deutsche Bank, two interesting stocks are like
The board of AbbVie Inc. ( NYSE:ABBV ) has announced that it will be paying its dividend of $1.48 on the 15th of…
In this article, we discuss the 13 best gold stocks to buy for recession. If you want to read about some more gold stocks, go directly to 5 Best Gold Stocks To Buy For Recession. According to a report by S&P Global, the sentiments for gold investment have risen over the past few months due […]
(Bloomberg) — For many investors, December has been a shocker in the stock market. After getting sucked in by a rousing seven-week rally, they’ve now had to watch as the S&P 500 posted the longest stretch of down days to begin a month since 2011.Most Read from BloombergPutin Calls Russian Nukes Deterrent Factor, Says War Risk RisingPeru’s President Accused of Coup After Move to Dissolve CongressBe Careful, Here Come the Predictions for 2023Why Did So Many US Men Quit Working? Social Status May
The market rally is holding key levels, but the choppy action is dangerous. Tesla stock fell toward bear market lows amid new China discounts.
The margin loans are one of the options that the Morgan Stanley-led bank group and Musk's advisers have discussed to ease the $13 billion debt Twitter took on as part of Musk's $44 billion deal, the report said, citing people with knowledge of the matter. The discussions have so far centered around replacing the $3 billion of unsecured debt on which Twitter pays an interest rate of 11.75%, the maximum banks had agreed to finance the acquisition in April, the report said.
While speaking at Benzinga’s Future of Crypto event, investments in and by FTX were discussed as one of the biggest topics impacting the cryptocurrency sector. Kevin O’Leary was an investor in FTX and Anthony Scaramucci’s Skybridge Capital received an investment from FTX. Both shared their takeaways from the event of FTX and what happened with Sam Bankman-Fried. FTX Investments: Scaramucci said that many did not see warning signs with 25 of the greatest venture capitalists investing in FTX. Acco
VinFast says its vehicles are 'differentiated, especially across the emerging EV space.' Here's what the company is touting.
Should you invest in a CD? The Fed's recent moves have sent interest rates—and APYs—higher.
Warner Bros. Discovery (NASDAQ: WBD), formed earlier this year when telecom giant AT&T spun off WarnerMedia and merged it with Discovery, has all the makings of a media giant. The company's stable of intellectual property and assets is formidable: HBO, DC Comics, Warner Bros.' films, linear TV channels including CNN, TBS, TNT, Cartoon Network, HGTV, TLC, Discovery, and many more, and rights to broadcast NBA games all fall under the company's umbrella. Warner Bros. Discovery is also already a major player in streaming.
Top stocks moving after hours on Wednesday, December 7, 2023.

source

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.