Coinbase Rated Best Exchange by Kaiko in Latest Exchange Report
Crypto data provider Kaiko released a new report “Cryptocurrency Exchange Ranking for Q2 2022”, rating Coinbase Global as the best crypto exchange in the world. Coinbase was the only exchange that earned the triple AAA rating, trailed by Binance and Kraken at no.2 and no.3 spots, respectively.
Coinbase 7 Points Ahead of Binance and Kraken
Kaiko’s exchange ranking report evaluates the world’s largest digital asset exchanges based on six criteria including governance, business, liquidity, security, technology, and data quality. Each exchange is awarded a specific number of points for each of those categories, with the Kaiko Exchange Score representing a weighted average of each individual score.
Coinbase, which went public last year, has a Kaiko Exchange Score of 96 points, followed by Binance and Kraken with 86 points each. Number 4 and number 5 belong to FTX US and Gemini, with 84 and 83 points, respectively.
“The top of our leadership is still held by Coinbase whose Kaiko Exchange Score increased by 2 points to reach 93, followed by Binance and Kraken, both at 86.”the report states.
The Q2 report also added five new crypto exchanges to the AA-rated category including Binance, FTX US, CEX.IO, FTX, and BitBank. These companies have joined Kraken, Gemini, and Bitstamp, which have been already placed in the AA category in the previous ranking list.
Coinbase, Binance, and Kraken were also the only 3 exchanges with a security score of 100, while the only exchange with 100 points in the governance category was Bitstamp. Coinbase, FTX US, Gemini, and Itbit each had a governance score of 98.
Some of the worst-ranked exchanges were SouthXchange, Bibox, and Yobit. The former has a Kaiko Exchange Score of just 36, while the other two scored 42 points. The list comprises a total of 46 exchanges.
Join our Telegram group and never miss a breaking digital asset story.
FTX, Binance, and Houbi Saw Best Gains From the Previous Repor
Thanks to their improved governance score, FTX, Binance, and Huobi jumped by 13, 11, and 8 positions respectively from the earlier report. On the other hand, the biggest losers were Corbit, SouthXchange, and BigOne. Corbit dropped 11 places from the previous ranking list, while SouthXchange and BigOne fell by 11 spots each.
“Exchanges losing ranks can be partly explained by an extension of the coverage, with the following twelve new joiners and their ranks: FTX US (4th), BitBank (11th), Currency.com (18th), Bitmex (22nd), Zaif (26th), BeQuant (30th), TheRockTrading (34th), Btcbox (36th), OKX (37th), Coinmate.io (38th), HitBTC (43rd) and Bibox (45th),”Kaiko said in the blog post.
Earlier this year, the top-ranked Coinbase said it would take steps to revamp its token listing procedures following insider trading allegations. The company pledged to shut down technical loopholes when new tokens are listed and ensure no one gains unfair advantages.
What is your favorite digital asset exchange and why? Let us know in the comments below.