Market Quality
The highest-weighted category. Assesses real trading efficiency through composite liquidity, volume, reference rate deviation, market maker incentives, and flash crash resilience.
CoinDesk Research, küresel kripto para borsalarını piyasa kalitesi, yasal uyumluluk ve güvenlik/altyapı açısından değerlendirmektedir. Bu üç aylık rapor, kurumsal yatırımcılara borsa ortaklıkları ve işlem platformları hakkında bilinçli kararlar alabilmeleri için şeffaf, veriye dayalı içgörüler sunmaktadır.
| 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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