Estimates revenues are calculated as follows: CryptoRank.io reported volumes for November multiplied by average fees listed on exchanges websites.
According to estimates, TOP 5 exchanges (Huobi, OKEx, Binance, Coinbase Pro, and MXC) are bringing in more than $20 million per month in revenue. The rest TOP 10 exchanges are bringing in from $4m to $14m that is also absolutely astonishing compared to the historical development of other traditional industries.
Overall, our estimates can be fixed on trading/VIP discounts, market making, trading mining, and other factors that reduce the estimated revenues of exchanges. Even so, the incredible fact remains that the relatively young cryptocurrency industry represented by exchanges can generate income of about $300,000,000 per month.