Major crypto exchanges Coinbase, Binance, and Kraken were in the top three positions in Q2 this year, according to ratings by Paris-based data provider Kaiko.
Kaiko ranks exchanges based on a weighted aggregate of each score for six criteria: governance, business, technology, data quality, security, and liquidity. The governance score received the highest weight (30%) in the aggregate.
Compared to the previous rankings, released in mid-January, FTX, Binance, and Huobi have seen the biggest ranking improvements, driven by their governance efforts.
Notably, Binance and FTX were not in the top 10 in the previous rankings.
Coinbase, Binance, and KuCoin were the most liquid among the ranked exchanges, while Itbit and Huobi were the least liquid among the top 10.
San Francisco-based Coinbase continues to top the leaderboard and remains the only exchange with a “Kaiko Triple Exchange Rating,” which means that the exchange registered a high total score and an even individual score. above a specified threshold.