According to digital asset analytics company Kaiko, cryptocurrency exchange Binance is still leading in several metrics.
In a new report, Kaiko has ranked the top 10 crypto exchanges in terms of liquidity, putting #Binance at the top, followed by Bybit and #Coinbase .
Liquid exchanges offer better trading conditions, such as reduced slippage and execution risk. Liquidity can be calculated in a variety of ways, but it is possible to rank an exchange's liquidity for that quarter using 5 metrics including volume and market depth.
Looking at the liquidity rankings of 43 exchanges, it's no surprise that the world's largest exchange, Binance, leads the way. However, taking into account additional factors such as management estimates, Binance ranks third behind Coinbase and #Bitstamp , lagging behind its major competitors.
The analytics company evaluates liquidity based on a combination of exchange transaction volume, volume share, market depth, swing dispersion ratio and market quality.
According to Kayko, Binance had the highest trading volume with high margins in the first quarter of this year.
Upbit ranked second. However, South Korean crypto exchanges ranked last in the overall ranking because they are less transparent than Binance, Kaiko said.
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