30+ Striking crypto exchange statistics you never knew about

Once relegated to futuristic sci-fi novels, cryptocurrencies have grown to become a more-commonly accepted asset class by the day. A decade ago, only a few tech-savvy individuals and institutions experimented with cryptocurrencies. Today, anyone can get involved in cryptocurrencies on various platforms among them cryptocurrency exchanges which crypto exchange statistics show have become the leading crypto advocates.

Before delving into the statistics, it is important to mention that when cryptocurrency transactions occur, they get digitally recorded on the blockchain (distributed ledger) over which the transactions take place. The blockchain, therefore, acts as a continuously updated decentralized and permanent record of all cryptocurrency transactions that occur.

Key Takeaways

• The daily cryptocurrency trading volume averages about $67.1 billion.
• There are three types of cryptocurrency exchanges; spot, derivatives, and decentralized.
• Globally, there are 243 cryptocurrency spot exchanges.
• The top 10 crypto exchanges account for 79% of the daily cryptocurrency trading volume.
• Binance is the largest cryptocurrency exchange with a daily trading volume of more than $12 billion.

Crypto exchange statistics

1. Binance is the largest crypto exchange by trading volume

According to data on CoinMarketCap, Binance is the largest cryptocurrency exchange by trading volume with a daily trading volume of $12,394,169,059 as of November 29, 2022. It has had the largest daily trading volume for several years now.

2. Coinbase is the second-largest exchange in terms of average liquidity

As of November 29, 2022, Coinbase was the second-largest crypto exchange in terms of average liquidity. It comes second after Binance which has average liquidity of 940 according to CoinMarketCap.

3. In terms of daily trading volume, Coinbase stands at position seven

The average daily trading volume on Coinbase is $1,516,210,164 making it rank at position seven behind Ecxx, Deepcoin, XT.com, IndoEx, and MEXC.

4. The top 4 cryptocurrency exchanges control about 63% of the global crypto trading volume

The four largest cryptocurrency exchanges which are Binance, Kraken, Coinbase, and Binance US, control 63% of the global cryptocurrency daily trading volume.

5. Coinbase crypto exchange has the most users

Coinbase has the largest base of registered crypto users and it is considered the marketplace for crypto beginners. It has over 108 million registered users.

6. Coinbase users have more than quadrupled since 2018

In 2018, Coinbase had about 28 million registered users compared to over 108 million users today.

It is worth noting that it is the only cryptocurrency exchange company that is currently publicly listed on the stock market.

7. 65% of US crypto holders use the Coinbase exchange

Coinbase is the most popular crypto platform in the US with data from Statista showing that 65% of US cryptocurrency holders use Coinbase.

8. Robinhood is the second most popular platform for crypto users in the US

According to the Statista survey, Robinhood is the second most popular crypto platform after Coinbase in the US.

9. International B2B blockchain transactions are estimated to reach $1.7 billion by 2025

The cross-border BRB blockchain transactions are projected to hit $843.1 million in 2023 and $1.7 billion by 2025.

10. The average daily cryptocurrency trade volume is $67.1 billion

Despite the crypto winter that has ravaged the crypto industry in 2022, the average daily cryptocurrency trade volume stood at about $67.1 billion as of mid-November 2022.

11. The cryptocurrency market is the 23^rd-largest economy in the world

According to data on CoinMarketCap, the total cryptocurrency market cap stood at $832.70B as of November 29, 2022, slightly below $1 trillion. The market cap makes it the 23^rd largest economy globally by gross domestic product.

This is despite the fact that the crypto market has undergone a sharp contraction in the past year. In November 2021, the total crypto market cap was almost $3 trillion.

12. More than 21,427 cryptocurrencies are currently in circulation

According to data from Statista, there are currently over 21,427 cryptocurrencies in circulation although more than 25,000 cryptocurrencies have ever existed.

13. There are three types of crypto exchanges

There are three types of cryptocurrency exchanges namely, cryptocurrency spot exchanges, cryptocurrency derivatives exchanges, and cryptocurrency decentralized exchanges (DEXs).

14. Currently, there are 243 cryptocurrency spot exchanges

According to data from CoinMarketCap, there are 243 spot exchanges with a total daily volume of $186.50 billion.

15. Uniswap is the largest cryptocurrency decentralized exchange with a market share of 0.0009%

As of November 29, 2022, Uniswap had a daily trading volume of $676,419,892 according to data obtained from CoinMarketCap.

It controls 0.0009% of the crypto market.

16. dYdX is the second largest decentralized exchange controlling about 0.0006% of the crypto market

As of November 29, 2022, dYdX had a market cap of $462,082,608 and it controlled about 0.0006% of the entire crypto market making it the second-largest DEX.

17. Global Bitcoin transactions surpassed 120 million in 2020

According to data from Digiconomist, the total number of Bitcoin payments made around the world surpassed 120 million.

18. Nigeria has the highest crypto adoption rate in the world

According to Statista, 2022 data suggests that 45% of Nigerians use or hold cryptocurrency. Thailand comes in second with 44% of citizens owning or using cryptocurrencies, and Turkey is third with 40% using or holding crypto.

In the US only about 16% of people own or use cryptocurrencies.

19. 60% of crypto users keep their cryptocurrencies in exchanges

Besides buying, selling, and exchanging cryptocurrencies, 60% of crypto users store their cryptocurrencies on crypto exchanges.

20. 63% of crypto investors understand the volatility of the market

According to a survey conducted by Binance, individuals who invest in cryptocurrencies tend to use disposable funds to buy cryptocurrencies and 63% of them understand the volatility of the crypto market.

Cryptocurrency exchange failures

21. 42% of crypto exchange failures occurred without any explanation to clients

According to an earlier research post by Coinjournal, about 42% of all the cryptocurrency exchanges that have collapsed/failed did not offer any explanation to their clients.

22. 9% of the failed exchanges were outright scams

Besides going out of business without notifying their clients, 9% of the failed exchanges were outright scams. The most recent is the Crex24 that vanished in February 2022, with posts later appearing about wallets being drained of tokens and liquidity.

23. Only about 22% of crypto exchanges failed due to legitimate business reasons

22% of the cryptocurrency exchanges that have shut their businesses did so because of valid business reasons with 8% being because of regulations.

24. The recent crypto exchange failure, the FTX collapse, resulted in at least $1 billion of client funds missing

According to an exclusive report by Reuters, about $1 billion to $2 billion of customer funds vanished with the collapse of the crypto exchange FTX.

25. Crypto exchange failures have reduced by 55% in 2022

In 2018, about 23 cryptocurrency exchanges collapsed or suddenly vanished. The number increased by 252% in 2019 and further increased by 17% in 2020. In 2021, the number remained the same.

In 2022, there has been a slight improvement with the number of collapsed crypto exchanges reducing by 55% despite the recent painful collapse of the FTX exchange.

2022 Crypto exchange hacks stats

26. An accumulative amount of $2.72 billion has been stolen from cryptocurrency exchanges since 2012

According to Hedge With Crypto, an accumulative amount of about $2.72 billion has been stolen by hackers since 2012.

27. The frequency of crypto hacks between 2020 and 2022 was at its pick in August 2021

According to data from Statista, the total value of cryptocurrency lost between 2020 and 2022 was highest in August 2021 with the lost cryptocurrencies valued at $726.44 million.

28. Coinbase exchange has never been hacked since it was founded in 2012

Cryptocurrency exchange Coinbase has never been hacked since it was launched. It is the only major crypto exchange that has not suffered at the hands of hackers so far.

29. The latest crypto exchange hack is the more than 400 million hack of the recently collapsed FTX exchange

According to news published by Coindesk, the insolvent crypto exchange FTX lost more than $400 million following an exploit immediately after it filed for bankruptcy in November 2022.

30. In 2022 the amount lost from exchanges due to hacks is about $434 million

The major crypto exchange hacks that have been reported in 2022 are the Crypto.com hack in January and the FTX hack in November. However although the number of hacked crypto exchanges has reduced, the value of the stolen crypto assets slightly went up compared to 2021.

The FTX hack resulted in a loss of about $400 million while the Crypto.com hack resulted in a loss of assets was about $34 million according to an official statement from Crypto.com.

31. In 2021, about $373 million were stolen from crypto exchanges

About four crypto exchanges were hacked in 2021 resulting in the loss of crypto assets worth about $373 million.

On August 19, 2021, the Japanese cryptocurrency exchange Liquid was hacked and assets worth about $97 million were stolen. On December 5, 2021, BitMart was hacked and assets worth about $196 million were stolen. On December 11, 2021, AscendEX was hacked with the stolen funds reported to be worth about $80 million.

Conclusion

There is so much that can be written about cryptocurrency exchanges since they constitute the bulk of crypto applications.

Nevertheless, we hope the above crypto exchange statistics offer you a comprehensive overview of cryptocurrency exchanges out there. We hope the statistics also assist you in making an informed decision when choosing the best crypto exchange to invest with.