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CryptoCompare launches new benchmark for cryptocurrency exchanges, and it shows Coinbase is king

Cryptocurrency data and indices provider CryptoCompare is launching its first cryptocurrency Exchange Benchmark, according to a press release CryptoCompare shared with The Block. The ranking assesses more than 100 active spot exchanges and analyses their reliability.

The release of the index follows recent reports exploring wash trading and fake volumes by exchanges in the market for digital assets. According to Bitwise’s research published in March, as much as 95 per cent of reported bitcoin trading volume had been created artificially. Similarly, incentivised trading schemes can also lead to higher trading volume. CryptoCompare reports lower-quality exchanges have increased their market share by almost a third in the last 12 months. The Block’s own research has…

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