Experts: Kraken has become the most liquid exchange for trading altcoins in the United States
Date: 2023-08-11 Author: Karina Ziganova Categories: BLOCKCHAIN, CRYPTO PAYMENTS
Cryptocurrency exchange Kraken topped the ranking of platforms in terms of market depth coverage in the United States. This follows from a report by Kaiko analysts.
In July 2023, Kraken's share of US altcoin sector coverage was 47%. In January - 39%. By comparison, Coinbase has seen this drop from 45% to 41%, according to Kaiko:
Market depth refers to the ability of a segment to repay a significant outflow or inflow of capital without a noticeable fluctuation in the price of an asset.
As you can see in the chart, the American division of Binance has seen this indicator drop from 7 to 1%. Recall that in July 2023, the organization's market share decreased to 0.9%, in August - to 0.5%.
Coinbase remains the leader in the US market. As of August 2023, the exchange controls a market share of 45.84%. Kraken - 23%, according to The Block:
In a commentary to the publication, a representative of Kraken explained the increase in indicators with the release of the Pro version of the trading platform. The site was presented at the end of last year.
In February 2023, the US Securities and Exchange Commission ordered Kraken to pay a $30 million fine and suspend its offering of staking programs. However, the situation, judging by the data, had little effect on the company's market coverage.
