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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Only 4 Crypto Exchanges Have 100,000+ Active Users

Tony "The Bull" Severino
Tony "The Bull" Severino
6 years ago
3 mins read

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With crypto still being years away from being widely adopted by the mainstream public, most of the market’s activity is driven by speculators and traders seeking to leverage the wild price swings and volatility in order to turn a profit.

However, new research data shows that the actual active users on top cryptocurrency exchanges is extremely low, with only four of the most active exchanges having over 100,000 active users.

Coinbase, Binance, Huobi, and OKEx: Over 100,000 Active Users

According to the November 2018 research report from the Blockchain Transparency Institute, only four of the top crypto exchanges can claim having over 100,000 active daily users.

The four exchanges with over 100,000 active daily users includes – to little surprise – San Francisco-based Coinbase, Changpeng Zhao-led Binance, Hong Kong-based OKEx, and Singapore-based Huobi.

Related Reading | Binance Boss Predicts Crypto Bull Run By Year’s End

Of the four exchanges, Coinbase leads the pack with 422,000 daily active users, with Binance trailing behind in second place with 313,000 daily active users. OKEx and Huobi barely made it over 100,000 daily active users, with 105,000 and 101,000 respectively.

Out of the 68 crypto exchanges included in the Blockchain Transparency Institute’s report, the average daily active users across all exchanges is a mere 27,000 users. On the absolute lowest end of the spectrum, Bisq, Coinrail, Kyber Network don’t even have 1,000 active daily users, topping out at 394, 573, and 874 users.

Coinbase: Highest Active Users, Very Little Transaction Volume

Coinbase coming out on top should be a surprise to no one, as the company has become the most recognizable name in crypto – especially to retail investors that primarily used Coinbase’s iOS app to purchase cryptocurrencies during last year’s bull run. The firm closed 2017 with over $1 billion in revenue, beating expectations by 66%.

What is shocking to see, is how little transaction volume Coinbase users contribute to the overall market volume. Of the four exchanges with over 100,00 active daily users, Coinbase ranks the lowest, with only $189 in transaction volume per user. By comparison, Binance transaction volume sits at $2,137 per user, while OKEx and Huobi’s customer transaction volume are $1,972 and $1,723 respectively.

Related Reading | Square Tops iOS Store: Can Coinbase Reclaim Its Throne?

Coinbase’s average customer transaction volume per user is about 10% of what other major cryptocurrency exchanges see for transaction volume. Bitfinex, which is known for its “whale” market makers, tops the list with the highest transaction volume per user at $3,518.

Due to how little money traders on Coinbase are transacting with, the incredibly popular exchange ranks 9th on the list for the highest 24 hour transaction volume, at $106 million in transactions each day. Binance, which currently wears the crown in terms of transaction volume, boasts nearly ten times that of Coinbase’s, with over $1.028 billion in transaction volume every 24 hours.

It’s worth pointing out that BitMex is notably missing from the data set provided by he Blockchain Transparency Institute, which is currently ranked 2nd – ahead of both Coinbase and Binance – on CoinMarketCap’s top 100 cryptocurrency exchanges by reported volume.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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