Market Quality
The highest-weighted category. Assesses real trading efficiency through composite liquidity, volume, reference rate deviation, market maker incentives, and flash crash resilience.
Про бенчмарк бірж
CoinDesk Research оцінює світові криптовалютні біржі за якістю ринку, відповідністю законодавству та безпекою/інфраструктурою. Цей щоквартальний звіт надає інституційним інвесторам прозорі аналітичні дані для прийняття обґрунтованих рішень щодо партнерства з біржами та торгових майданчиків.
Рейтинги
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| 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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