Research: Crypto Exchanges Dwarfed By Banks

Crypto Exchanges compared to banks

New research from Hacken’s Crypto Exchange Ranks (CER) shows that traditional financial institutions like JPMorgan and Bank of America literally dwarf crypto-exchanges. Hacken compared deposits from the five largest US and UK banks, five local banks in emerging countries, and the five largest crypto-exchanges. The wallet balances of the crypto-exchanges are not even visible in the respective chart. Haken is the operator of cybersecurity services with a special focus on blockchain technologies.

Like banks, crypto-exchanges are acting as intermediaries between traders, investors, projects and other stakeholders. The metric used today to compare exchanges – the daily trade volumes – is open manipulation. Hacken System’s Crypto Exchange Ranks (CER) suggests a more accurate ranking method based on the deposits of cryptocurrencies on the wallets.

The only trustworthy data about the exchanges available now resides in their cold and hot wallet balances. This information may not be falsified and can be easily verified. Likewise, anyone can observe the wallets of a particular exchange and track all their changes and movements.

Hacken Systems’s

Hacken claims that Crypto Exchange Ranks is the first and only rating service which provides comprehensive objective crypto exchange analytics. It is based on a thorough analysis of broad risk areas including liquidity, compliance, reliability, public opinion and cybersecurity level.