A Q3 benchmark report by blockchain market analytics firm CryptoCompare has seen fashionable cryptocurrency change, Binance, squeezed out from its top-10 place.
In CryptoCompare’s earlier report—launched in June—Binance occupied the eighth place among the many world’s main crypto exchanges, ranked by a slew of qualitative and quantitative measures. But it has now fallen to the 12th place on the checklist.
Charles Hayter, co-founder and CEO of CryptoCompare instructed crypto information web site The Block that the slip is because of Binance being hacked in May, when round $40 million was stolen.
The rating, launched on Tuesday, combines qualitative requirements—like how exchanges have dealt with due diligence, in addition to authorized and regulatory issues—and quantitative, information pushed metrics, reminiscent of funding info. CryptoCompare then assigns the exchanges that it analyzes a Rank Score of between one and 100.
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While Binance sits at twelfth place, its opponents have moved up the ranks: Gemini, itBit and Coinbase, occupying the highest three spots respectively, acquired AA grades.
Others within the high 10—all grade A exchanges—embody Kraken, Bitstamp, Liquid, OKEx, Poloniex, bitFlyer, and Bitfinex. Binance additionally acquired an A grade, together with Luno, which occupied 11th place on CryptoCompare’s checklist.
Taking Binance’s eighth-place rating is OKEx, an change based mostly in Binance’s dwelling turf—crypto-friendly Malta. OKEx lists over 400 token and futures buying and selling pairs.
“We are glad to be well-received by our customers and analysts. It is so encouraging to see our years of hard work has paid off with a grade A verification and such ranking,” mentioned Andy Cheung, Head of Operations of OKEx.
However, although Binance’s top-10 place was compromised, there’s not an enormous distinction between its score and people of exchanges within the high 10. Though the primary 5 exchanges have scores of over 78 out of 100, exchanges ranked sixth by twelfth have scores between 65-70.