In CryptoCompare’s most recent exchange report, their research team compared aggregate monthly exchange volumes and trading data for Bitcoin and other cryptocurrencies on both top-tier and low-tier cryptocurrency exchanges in December 2019.
The report suggested that volume from top-tier exchanges decreased by 26.26%, while low-tier volumes decreased by just 19.9%. The team also noted how the aggregate top-tier exchange volume still represented only 27.4% of the total market.
Further, they showed how exchanges like Bitforex, HitBTC and EXX had the largest trade sizes relative to other top exchanges, with an average of 1.91, 1.3 and 0.98 bitcoin respectively. Bibox and Liquid purportedly saw the highest average trade count per day last month, each with 347,000 and 319,000 trades per day.
The report also showed how exchanges that charge taker fees represented 73% of total exchange volume in December, while those that implement ‘trans-fee mining’ represented 25%. Exchanges that charged fees traded a total of $3138.75 billion in December, an 18.2% decrease from November, while trans-fee mining exchanges traded $108.87 billion over the same period, down 30.6% from the previous month. $4.16 billion was traded on exchanges that predominantly charge no trading fees.
Additionally, the report explained how 70% of trading in December involved the US dollar, and that bitcoin to USD volumes had decreased by 9% over the month — from 922,000 bitcoin in November to 835,000 bitcoin the next month. CryptoCompare also pointed out how 78.8% of trade volume occurred on exchanges that only offer crypto-to-crypto trading, accounting for $340.29 billion. Fiat to crypto exchanges, however, represented only 21% ($91.5 billion), similar to previous months.
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