Market Quality
The highest-weighted category. Assesses real trading efficiency through composite liquidity, volume, reference rate deviation, market maker incentives, and flash crash resilience.
Über den Exchange Benchmark
CoinDesk Research bewertet globale Kryptowährungsbörsen hinsichtlich Marktqualität, rechtlicher Compliance und Sicherheit/Infrastruktur. Dieser Quartalsbericht bietet institutionellen Investoren transparente, datengestützte Einblicke für fundierte Entscheidungen über Börsenpartnerschaften und Handelsplätze.
Rankings
75 von 75
| Rank | Exchange | Final Score | Final Grade | Ranking Change | KYC/Transaction Risk | Legal/Regulation | Data Provision | Security | Team/Exchange | Negative Events | Market Quality | Transparency |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bitstamp by Robinhood | 90.26 | AA | 1 | 15.0 | 15.0 | 8.3 | 19.2 | 5.0 | 0.0 | 19.1 | 8.6 |
| 2 | Coinbase | 88.58 | AA | 1 | 14.3 | 15.0 | 7.7 | 20.0 | 4.7 | -3.0 | 20.9 | 9.0 |
| 3 | Kraken | 87.77 | AA | 1 | 15.0 | 15.0 | 7.8 | 17.6 | 4.5 | 0.0 | 19.1 | 8.7 |
| 4 | Binance | 87.25 | AA | -3 | 14.3 | 14.3 | 7.3 | 19.2 | 5.0 | -3.0 | 22.6 | 7.5 |
| 5 | Bullish | 86.99 | AA | 2 | 15.0 | 15.0 | 6.4 | 16.0 | 4.8 | 0.0 | 21.0 | 8.7 |
| 6 | crypto.com | 86.22 | AA | -1 | 11.7 | 13.5 | 7.8 | 19.0 | 4.6 | 0.0 | 21.2 | 8.4 |
| 7 | Gemini | 84.47 | A | 1 | 15.0 | 15.0 | 7.0 | 18.9 | 4.4 | 0.0 | 15.6 | 8.7 |
| 8 | OKX | 82.85 | A | -2 | 14.3 | 14.3 | 7.8 | 17.1 | 4.6 | 0.0 | 17.3 | 7.5 |
| 9 | Gate | 81.42 | A | 0 | 13.8 | 14.3 | 6.6 | 17.7 | 4.1 | 0.0 | 17.1 | 7.9 |
| 10 | Bybit | 80.79 | A | 0 | 14.3 | 12.2 | 8.0 | 15.7 | 4.1 | 0.0 | 19.7 | 6.9 |
| 11 | Hashkey | 78.47 | A | 1 | 15.0 | 12.2 | 7.4 | 16.7 | 3.7 | 0.0 | 15.4 | 8.0 |
| 12 | OSL | 76.90 | A | 9 | 15.0 | 13.0 | 7.2 | 16.7 | 4.2 | 0.0 | 15.4 | 5.4 |
| 13 | Bitget | 74.92 | BB | 0 | 12.6 | 10.9 | 7.1 | 16.9 | 3.5 | 0.0 | 18.3 | 5.7 |
| 14 | LMAX Digital | 74.09 | BB | -3 | 13.8 | 6.8 | 6.8 | 17.1 | 4.8 | 0.0 | 17.0 | 7.8 |
| 15 | Kucoin | 73.95 | BB | 10 | 11.7 | 8.2 | 7.9 | 18.9 | 4.0 | -2.0 | 18.4 | 6.9 |
| 16 | itBit | 73.40 | BB | 6 | 9.9 | 15.0 | 6.4 | 16.9 | 2.8 | 0.0 | 15.9 | 6.5 |
| 17 | Whitebit | 73.34 | BB | -3 | 11.4 | 12.2 | 8.3 | 16.9 | 3.1 | 0.0 | 19.6 | 1.9 |
| 18 | Deribit | 72.82 | BB | -1 | 14.1 | 6.1 | 7.4 | 19.1 | 4.6 | 0.0 | 12.5 | 9.0 |
| 19 | Bitfinex | 72.67 | BB | -1 | 13.8 | 10.2 | 8.3 | 17.4 | 3.8 | 0.0 | 16.3 | 3.0 |
| 20 | Coinbase International | 70.62 | BB | – | 15.0 | 8.2 | 6.6 | 18.3 | 3.9 | 0.0 | 11.1 | 7.6 |
| 21 | Cex.io | 70.07 | BB | -6 | 13.1 | 8.9 | 6.6 | 15.7 | 4.3 | 0.0 | 13.7 | 7.8 |
| 22 | Bitso | 68.50 | B | 6 | 12.6 | 8.2 | 6.0 | 15.1 | 4.8 | 0.0 | 13.5 | 8.4 |
| 23 | Figure Markets | 68.30 | B | 0 | 15.0 | 11.5 | 6.3 | 16.2 | 4.3 | 0.0 | 6.4 | 8.7 |
| 24 | BitVavo | 68.23 | B | -5 | 11.7 | 6.1 | 7.6 | 14.0 | 4.7 | 0.0 | 16.4 | 7.7 |
| 25 | Luno | 67.76 | B | -1 | 12.0 | 8.2 | 7.2 | 15.3 | 4.3 | 0.0 | 12.0 | 8.7 |
| 26 | Upbit | 67.72 | B | -10 | 8.8 | 13.0 | 6.5 | 13.4 | 4.6 | -3.0 | 16.6 | 7.8 |
| 27 | binanceusa | 66.36 | B | -7 | 14.4 | 6.1 | 7.3 | 19.4 | 4.4 | 0.0 | 13.0 | 1.7 |
| 28 | Bit2Me | 64.94 | B | -1 | 12.3 | 6.1 | 4.6 | 13.0 | 4.4 | 0.0 | 18.0 | 6.5 |
| 29 | BitMex | 64.79 | B | 2 | 14.3 | 6.1 | 6.6 | 16.8 | 4.6 | 0.0 | 8.5 | 7.9 |
| 30 | CoinJar | 63.47 | B | -1 | 12.6 | 8.9 | 7.4 | 14.0 | 4.6 | 0.0 | 9.6 | 6.5 |
| 31 | BitMart | 61.67 | B | -1 | 8.7 | 3.9 | 7.5 | 14.9 | 3.0 | 0.0 | 18.9 | 4.7 |
| 32 | Independent Reserve | 60.91 | B | 12 | 11.7 | 6.1 | 4.7 | 15.4 | 4.6 | 0.0 | 12.0 | 6.4 |
| 33 | NDAX | 59.34 | C | 1 | 12.9 | 8.9 | 5.4 | 15.4 | 4.2 | 0.0 | 10.2 | 2.4 |
| 34 | MEXC Global | 58.57 | C | 2 | 9.9 | 3.9 | 6.6 | 12.8 | 2.4 | 0.0 | 17.1 | 5.9 |
| 35 | Phemex | 58.55 | C | 10 | 9.4 | 5.3 | 6.0 | 10.0 | 3.8 | 0.0 | 17.6 | 6.4 |
| 37 | HTX | 58.28 | C | -3 | 8.4 | 7.4 | 7.2 | 10.0 | 2.3 | 0.0 | 17.6 | 5.4 |
| 38 | Backpack Exchange | 58.24 | C | -5 | 11.7 | 4.6 | 6.4 | 10.8 | 3.4 | 0.0 | 14.7 | 6.6 |
| 39 | Mercado Bitcoin | 57.85 | C | 4 | 12.3 | 5.4 | 6.9 | 12.5 | 4.9 | 0.0 | 11.1 | 4.7 |
| 40 | BitBank | 57.59 | C | -1 | 11.1 | 6.1 | 6.5 | 16.0 | 3.9 | 0.0 | 13.0 | 0.9 |
| 41 | INX One | 57.27 | C | -3 | 8.0 | 12.2 | 4.6 | 16.2 | 5.0 | 0.0 | 4.8 | 6.5 |
| 42 | EDX Markets | 57.16 | C | -6 | 14.1 | 4.7 | 4.8 | 15.3 | 4.5 | 0.0 | 8.3 | 5.5 |
| 43 | Bitunix | 56.82 | C | -1 | 11.7 | 4.7 | 6.5 | 12.3 | 0.5 | 0.0 | 14.7 | 6.4 |
| 44 | Toobit | 55.98 | C | -3 | 7.2 | 4.6 | 5.5 | 15.0 | 3.3 | 0.0 | 15.1 | 5.3 |
| 45 | Woo | 55.15 | C | 8 | 11.7 | 2.3 | 7.3 | 15.1 | 3.5 | 0.0 | 8.7 | 6.6 |
| 46 | CoinEx | 53.71 | C | 1 | 5.1 | 5.9 | 6.5 | 12.8 | 2.4 | 0.0 | 15.4 | 5.7 |
| 47 | Exmo | 53.51 | C | 2 | 9.9 | 6.1 | 6.9 | 11.6 | 3.3 | 0.0 | 12.4 | 3.3 |
| 48 | Bitkub | 51.99 | C | 0 | 9.9 | 6.7 | 6.3 | 15.4 | 3.8 | 0.0 | 5.8 | 4.1 |
| 49 | One Trading | 50.27 | C | 1 | 14.1 | 5.4 | 5.4 | 14.9 | 3.6 | 0.0 | 1.4 | 5.5 |
| 50 | BTCMarkets | 50.07 | C | 5 | 10.2 | 2.3 | 6.4 | 15.4 | 3.4 | 0.0 | 11.5 | 0.9 |
| 51 | LBank | 49.88 | C | 17 | 6.8 | 4.7 | 6.1 | 8.5 | 2.3 | 0.0 | 14.8 | 6.7 |
| 52 | bitFlyer | 48.53 | C | 6 | 11.1 | 13.0 | 6.1 | 5.5 | 3.4 | 0.0 | 8.9 | 0.6 |
| 53 | Bithumb | 48.30 | C | 11 | 8.8 | 6.1 | 6.8 | 13.1 | 3.8 | -3.0 | 4.8 | 7.8 |
| 54 | Korbit | 46.84 | C | -3 | 10.5 | 6.1 | 5.8 | 12.2 | 3.9 | -3.0 | 6.3 | 5.0 |
| 55 | bitbuy | 46.28 | C | 1 | 10.8 | 5.4 | 4.1 | 14.9 | 4.0 | 0.0 | 4.8 | 2.3 |
| 56 | Coinone | 45.85 | C | -2 | 8.3 | 6.1 | 6.7 | 13.8 | 2.6 | -3.0 | 10.4 | 0.9 |
| 57 | bequant | 45.54 | C | 0 | 9.9 | 3.9 | 6.4 | 10.4 | 2.8 | 0.0 | 11.6 | 0.6 |
| 58 | Poloniex | 45.06 | C | 2 | 5.1 | 0.8 | 7.6 | 5.8 | 2.5 | 0.0 | 17.9 | 5.4 |
| 59 | Bitrue | 44.29 | D | 7 | 5.3 | 4.6 | 5.7 | 5.8 | 2.0 | 0.0 | 16.2 | 4.7 |
| 60 | Flipster | 44.02 | D | 2 | 11.1 | 3.9 | 5.8 | 15.4 | 3.2 | 0.0 | 1.6 | 3.0 |
| 61 | BingX | 41.27 | D | 2 | 6.8 | 0.8 | 6.9 | 7.0 | 1.8 | 0.0 | 11.0 | 6.9 |
| 62 | DigiFinex | 41.02 | D | -1 | 5.4 | 3.2 | 6.5 | 3.2 | 3.3 | 0.0 | 14.0 | 5.4 |
| 63 | Cube | 38.42 | D | 11 | 11.1 | 6.6 | 5.7 | 10.4 | 2.6 | 0.0 | 1.5 | 0.6 |
| 64 | LAToken | 38.03 | D | 5 | 8.1 | 4.6 | 4.9 | 5.8 | 2.5 | 0.0 | 11.5 | 0.6 |
| 65 | AscendEX | 37.01 | D | 0 | 3.8 | 1.5 | 7.0 | 6.1 | 3.4 | 0.0 | 14.3 | 0.9 |
| 66 | gopax | 36.71 | D | 5 | 9.9 | 3.1 | 5.8 | 13.0 | 3.4 | 0.0 | 1.1 | 0.3 |
| 67 | valr | 36.15 | D | 5 | 6.5 | 3.9 | 7.2 | 3.2 | 3.6 | 0.0 | 11.2 | 0.6 |
| 68 | Coinmate | 36.10 | D | 13 | 5.1 | 8.1 | 5.7 | 9.8 | 3.2 | 0.0 | 3.9 | 0.3 |
| 69 | Cryptology | 36.01 | D | -2 | 9.5 | 1.5 | 7.0 | 3.4 | 4.1 | 0.0 | 9.7 | 0.9 |
| 70 | P2PB2B | 35.99 | D | 3 | 5.1 | 3.1 | 6.3 | 5.4 | 2.1 | 0.0 | 10.7 | 3.3 |
| 71 | Coincheck | 35.88 | D | 7 | 8.7 | 4.6 | 5.2 | 3.7 | 3.7 | 0.0 | 7.7 | 2.3 |
| 72 | coinspro | 35.65 | D | 3 | 6.2 | 3.9 | 5.9 | 5.5 | 2.9 | 0.0 | 10.7 | 0.6 |
| 73 | BTCTurk | 32.70 | E | 4 | 9.3 | 4.6 | 7.2 | 3.9 | 2.2 | 0.0 | 5.2 | 0.3 |
| 74 | indodax | 32.36 | E | -4 | 4.7 | 3.9 | 6.0 | 3.1 | 3.1 | 0.0 | 8.7 | 3.0 |
| 75 | BitTrade | 31.87 | E | 1 | 9.3 | 3.9 | 5.2 | 6.9 | 1.1 | 0.0 | 4.9 | 0.6 |
| 76 | HitBTC | 31.28 | E | 3 | 6.3 | 0.8 | 7.1 | 3.8 | 1.4 | 0.0 | 11.5 | 0.6 |
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