I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.
If you could travel 10 years back in time—knowing what you know now—how would you invest your money?
If you know anything about crypto exchange statistics, you wouldn’t have invested in Apple, which has grown 8x in 10 years, or even in Tesla, which has grown by 64x.
You would have gone to a crypto exchange to invest in Bitcoin, which has multiplied in value by 1,570x in the past 10 years.
Crypto exchange trends help capture the explosive growth of the past decade, but by understanding future trends for 2023 and beyond, you can make the best investments for 10 years from now.
Top Crypto Exchange Statistics
Top 10 Crypto Exchanges by Trading Volume
Crypto is known for its fast-paced growth and constant changes. The list of top crypto exchanges in the short term changes daily (just look at FTX’s meteoric rise and fall), but by looking back at 2022 as a whole, these were the top 10 exchanges, ranked by billions of dollars in annual trading volume in 2022:
| Exchange | Volume YTD (USD) |
|---|---|
| Binance | $4.953 trillion |
| OKX | $960.93 billion |
| UpBit | $800.00 billion |
| Coinbase | $775.09 billion |
| KuCoin | $554.87 billion |
| Crypto.com | $453.96 billion |
| Huobi | $452.62 billion |
| Gate.io | $433.83 billion |
| Kraken | $237.48 billion |
Top 10 Decentralized Crypto Exchanges by Trading Volume
Expect to hear about decentralized finance (or DeFi) a lot in 2023—this emerging technology is quickly becoming a big fish in the crypto pond.
At the time of writing, these are the top 10 largest decentralized crypto exchanges by millions of dollars of daily trading volume:
| Exchange | Volume YTD (USD) |
|---|---|
| Uniswap | $1.3 billion |
| dYdX | $1 billion |
| Curve Finance | $400 million |
| Kine Protocol | $250 million |
| Balancer | $200 million |
| OpenOcean | $400 million |
| PancakeSwap | $120 million |
| ApolloX DEX | $82 million |
| DODO | $70 million |
Crypto Exchanges with the Lowest Fees
Sometimes you get what you pay for, but these crypto exchanges find the balance between a quality product at a low price.
Binance. Aside from being by far the largest crypto exchange, Binance also boasts some of the lowest fees on the market with a 0.1% Maker fee and 0.1% Taker fee.
With a minimum transaction value of $10 and over 500 cryptocurrencies to choose from, Binance caters to a wide market.
KuCoin. Not to be outdone, KuCoin boasts the same 0.1% Maker fee and 0.1% Taker fee but offers over 700 tradable coins to choose from.
Crypto.com. With fees for low-volume trades and 250 available coins, Crypto.com doesn’t offer the flexibility of Binance or KuCoin, but they make up for it with 0.075% Maker and 0.075% Taker fees.
Total Number of Crypto Exchanges
As with any emerging field, crypto is a global phenomenon that doesn’t have a strict definition of an exchange.
As of 2022, there were at least 600 cryptocurrency exchanges worldwide.
As of 2022, there were at least 600 cryptocurrency exchanges worldwide, but that number can change drastically at any time. These exchanges come in all shapes and sizes; not all are notable or trustworthy.
In 2023, CoinMarketCap currently tracks 243 crypto exchanges that it considers to be noteworthy, although the total number of exchanges “out in the wild” is likely to be much higher.
Largest Crypto Exchanges by Country
In 2023, 10% of the world’s population will own cryptocurrency in some form.
In 2023, 10% of the world’s population will own cryptocurrency in some form. Crypto is a truly global endeavor, and while some countries have restricted or outright banned cryptocurrency, crypto exchanges are thriving in every corner of the globe.
| Country | Exchange |
|---|---|
| United States | Coinbase |
| Canada | Coinberry |
| United Kingdom | eToro |
| India | WazirX |
| Singapore | Binance |
| Australia | ByBit |
| Thailand | Bitkub |
| Nigeria | KuCoin |
| Brazil | Mercado Bitcoin |
Crypto Exchange Trends
Fastest growing crypto exchange. As a percentage of volume, smaller exchanges that are starting from extremely small (or non-existent) volumes can look like they’re fast-growing, but Coinbase is the fastest-growing reputable exchange.
Top traded cryptocurrencies. In 2023, Bitcoin reigns supreme with a $369 billion market cap—over twice as much as its closest rival, Ethereum.
Wealthiest crypto exchange CEO. Close to being the world’s wealthiest person, 44-year-old Binance CEO Changpeng Zhao has an estimated net worth of $96 billion, enough to end homelessness in the US 4½ times over.
Crypto exchange with the most users. While Binance is the largest exchange in terms of both revenue and trade volume, Coinbase takes the crown for the largest number of registered users.
Percentage of users who keep their crypto on an exchange. Perhaps surprisingly, Bitcoin is at a 4-year low in terms of crypto held on exchanges.
In 2023, only 12% of Bitcoin is held on an exchange.
Major crypto exchanges have gone bankrupt. While small exchanges appear and disappear every day, 2022 has seen a significant number of established exchanges file for bankruptcy, creating what some experts call a “crypto winter.”
Some of the notable firms that filed for bankruptcy in 2022 are Core Scientific, BlockFi, FTX, Celsius, Babel Finance, Three Arrows Capital, Voyager Digital, Zipmex, Genesis, and Hodlnaut.
Regulated crypto exchanges. Each country has laws about crypto, ranging from outright bans to legality to fully embracing crypto as legal tender.
Each crypto exchange is regulated by the countries they operate out of. Some of the crypto exchanges that are regulated by the United States are Coinbase, Binance.US, CEX.io, Gemini, and Kraken.
Amount of money that has been stolen due to crypto exchange hacks. Due to the private nature of crypto, it’s impossible to know how much has been stolen due to smaller, everyday hacks.
However, in 125 public hacks, thieves have stolen more than a combined $3 billion.
In 2022, hackers made away $1.48 billion in just five hacks alone.
Largest crypto exchange hack. The largest crypto hack in history was in 2022: $625 million from Ronin Network in March.
Not far behind, FTX lost $600 million to a hack in November, just ahead of Binance’s $570 million loss in October.
While these high-profile hacks make headlines, most smaller hacks go unreported.
Most popular crypto apps on the Apple App store. Buying and selling crypto directly from your phone is easier than it ever has been with these popular crypto apps.
Topping the list are Coinbase and Coinbase Pro. While Coinbase is easier to use, it features higher fees than the more advanced Coinbase Pro.
While Coinbase’s apps boast the largest number of users, volume leader Binance is close behind.
Conclusion
The crypto world changes every day. Sometimes, even every second. These crypto exchange stats can help you key in on crypto exchange trends in 2023 and beyond so that you can invest in secure, successful, and reputable exchanges.
I'm Donny. I'm a world traveler, investor, entrepreneur, and online marketing aficionado who has a big appetite to compete and disrupt big markets. I thrive on being able to create things that impact change, difficult challenges, and being able to add value in negative situations.
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