Binance drops out of the top 10 in the latest rankings by Cryptocompare

Winklevoss twins' Gemini exchange topped the list of 160 crypto exchanges released by Cryptocompare yesterday. Malta-based exchange Binance dropped from 8th place to 12th in the updated rankings.

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World’s leading crypto exchange by volume Binance failed to find a spot in the top ten in the list of 160 crypto exchanges published by Cryptocompare. Gemini topped the list while Paxos’ itBit and Coinbase were in second and third place, respectively. Other exchanges that made it to the top 10 are Kraken, Bitstamp, Liquid, OKEx, Poloniex, bitFlyer, and Bitfinex.

 

Binance was marked down in the security category.

The world’s leading crypto exchange Binance in traded volume dropped from 8th position to 12th in the updated rankings by Cryptocompare. This happened because Binance suffered a hack in May in which hackers managed to steal more than 7,000 bitcoins that were worth $41 million at the time. Charles Hayter, co-founder, and CEO of CryptoCompare, said that their new Benchmark includes a category for recent hacks for which they penalize exchanges.

 

New rankings include 160 spot exchanges.

Cryptocompare is a leading crypto data provider based in the United Kingdom. In the first Benchmark, the company ranked 100 crypto exchanges. In the upgraded list, the company has ranked 160 spot exchanges based on various aspects. Cryptocompare also revealed that only 8% of analyzed exchanges use a custody provider to store user assets, while only 4% of exchanges offer third-party insurance in the event of an hack.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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