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According to the monthly crypto exchange benchmark report by CryptoCompare, Gemini and Coinbase are at the top of the top crypto exchanges list with the highest score and “AA” grade. At the same time, Binance DEX grabs the first spot on the decentralized crypto exchanges’ list.

Top-tier exchanges like Coinbase and Binance are pushing the lower-tier ones such as Bitexbook out of the market. Top tier exchanges that have the lowest amount of risk for traders have been increasing their market share throughout 2020, which could be taken as a sign of a more mature market.

In Q4 of 2019, the top tier exchanges accounted for 32% of global volume, which jumped to 40% in Q2 of 2020. Lower tier exchanges’ market share meanwhile has continuously been on a decline from 68% in the final quarter of 2019.

Security at crypto exchanges at large, however, remains poor. Only a meager 15% of exchanges claim to hold 95% of user funds in cold storage, wallets that aren’t connected to the internet, and as such resistant to hackers.

12% of crypto exchanges use a third party custody provider to store user assets, up from 9% from Q4 2019.

4% of exchanges have been hacked in the last year. Most recently, UK-based crypto exchange Cashaa lost 336 Bitcoin, worth about $3 million in an attack, which resulted in a breach of one of its wallets.

The attack came when the industry is seeing a record low in funds lost in exchange attacks. Cashaa was one of the largest attacks of this year.

Just last week, a report from the Financial Action Task Force (FATF) came in, which the international financial watchdog said regulators need to meet in October to create a more robust global framework for crypto exchanges.

The report also found that about 5% of exchanges offer insurance on digital assets.

June wasn’t a good month for crypto exchanges. As we reported, the volume dropped dramatically last month.

The same was the case for web traffic with Huobi losing the most – 31.7% between Q1 and Q2. Unlike other exchanges, OKEx saw an increase of nearly 240% in web traffic. Binance also saw a 9% increase.

“However, our research suggests that traffic growth for certain exchanges may be inorganic, as top traffic referrers were crypto ad or faucet sites,” said the quarterly report by CoinGecko for Q2 2020.

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