The crypto exchange industry 2019 according to the TokenInsight report

TokenInsight published the annual research report entitled “Crypto Exchange Industry 2019”. The analysis reveals industry trends in terms of trading activities, regulations and user trends.

According to the report, 75% of the world’s cryptocurrency users use the top 10 crypto exchange platforms. The remaining 25% are distributed among the other 40 top exchanges.

The most used platforms are Binance, Coinbase Pro and Upbit in terms of number of users.

Compared to the previous two quarters, the fourth quarter of 2019 registered significant changes in the top of the exchanges. Binance ranked first, surpassing Coinbase, while Upbit climbed 2 positions. Coinbase Pro, Yobit and Bithumb fell in the standings.

The crypto 2019 exchange industry regarding geographical distribution

In terms of geographical distribution, the United States, South Korea and Russia are the countries with the highest monthly average number of independent users. US users are responsible for most trading volumes on multiple exchanges such as Binance, Coinbase Pro, Bittrex and Kraken.

In terms of the percentage of visitors by country, Binance, Bitfinex and Bittrex were widely dispersed. The first 5 countries included in the analysis represent only 40% of the users of these platforms.

“The high degree of fragmentation of visitors indicates that the platform is highly internationalized and, on the other hand, it can increase the security of the platform in terms of compliance.”

In the third quarter of 2019, the number of users on Binance and HitBTC increased by 10% per month.

The growth did not manifest itself in the last quarter of the year for these three platforms. In fact, with the exception of KuCoin, Bithumb, Yobit and HitBTC, other exchanges maintained a slight increase in the number of users in the fourth quarter.

“Binance still has the most extensive and solid user base, the number of fans has exceeded 1 million, and the growth rate is fast”,

mentions TokenInsight in the report.