The latest interesting stats on crypto exchanges from Tokenbox analysts
Dear community! We suggest you the latest interesting stats on crypto exchanges from Tokenbox analysts with an insightful comment from our CEO Pavel Salas.
Did you know that the number of clients of crypto exchanges can be compared to the population of Canada? According to various estimates, it totals from 30 to 40 million people! (putting that in context, the Binance exchange alone has 7.9 million users, which is roughly the population of Hong Kong).
It is no secret that in 2018 crypto exchanges are growing at an accelerating pace. As of now, there are more than 500 crypto exchanges around the globe, and their number continues to rise.
There is no exact data on the number of cryptocurrency holders; however, it is known that blockchain.com, the popular cryptocurrency wallet provider, has 29 million users. So, we can talk here about dozens — and not yet hundreds — of millions of users.
The turnover of major crypto exchanges (as of October 11):
Bitmex (derivatives): $ 3,270,000,000
Binance: $ 1,275,000,000
Bithumb: $ 945 million
OKEx: $ 798,000,000
Bitfinex: $ 708,000,000
Average turnover (without derivatives): $ 931 000 000
There are more than 600 crypto hedge funds globally.
The rapid development of the crypto community and the emergence of new cryptocurrencies allow us to make a positive forecast about their future and assume that this active growth will continue.
Read the full comment about this situation by Pavel Salas and share your opinion with us!
“Opening an investment fund still requires a certain order of things to do. And the opening process still takes a lot of time. A fund must have an administrator in a particular jurisdiction, who validates a real value of the fund’s assets. Blockchain technology makes this process transparent and enables a real-time validation.
Also, the fund must have a custody, which allows to deposit money. Today custody remains the biggest problem for hedge funds, as no one really wants to take a responsibility and guarantee crypto assets’ safety. Banks that usually give such guarantees for fiat money are still very cautious when it comes to working with crypto. Sad reality.
There is a Lichtenstein bank — Frick — that most of Swiss and local funds work with, even though it limits the amount of crypto to operate.
There are several other banks providing custody, but what is really the amount of assets they work with?… There are “grey” banks that seem to have custody, but they don’t give a 100% guarantee.
Thus, expensive insurance makes the whole process illiquid. Possibility of the market going down puts banks at a huge risk, they can easily lose everything.
All in all, everybody needs guarantees, and doesn’t want to risk. This is exactly why there are not so many institutional players in this business so far. But regulation is slow, but very firm process. I hope that we will see a lot of improvements in this field in 2019”.
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