According to the latest report from Kaiko, Coinbase has emerged as the leader among cryptocurrency exchanges, overtaking Binance in key performance metrics. The report evaluates aspects such as governance, business performance, liquidity, and technology.
Key Ranking Changes
Kaiko has released a new ranking where Coinbase has risen to the top, surpassing Binance, Kraken, and Crypto.com. In a June 5 update, it was highlighted that Coinbase achieved success due to high scores in governance, security, and liquidity.
Focus on Trust and Compliance
With regulatory scrutiny increasing globally, Coinbase's emphasis on compliance, transparency, and secure operations may play a significant role in its success compared to competitors.
Strong Competition in the Market
Despite Binance's dominance in trade volume and global reach, concerns over its regulatory practices have negatively impacted its reputation. Kraken and Crypto.com also performed well, reflecting the growing competition and improved standards in the industry.
The findings from Kaiko's research highlight changes in the dynamics of cryptocurrency exchanges, where Coinbase has managed to take a leading position thanks to regulatory compliance and high liquidity, along with increasing market competition.
