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, MXC and Coinbase Pro) are bringing in more than $20 million per month in revenue. The rest TOP 10 exchanges are bringing in from $4m to $13m that is also absolutely astonishing compared to the historical development of other traditional industries.
We can observe that Asian-based cryptocurrency exchange platforms are dominating the global crypto trading industry. Estimates put both Asian-based Huobi, OKEx, Binance, MXC, OKEx, Bitfinex, Upbit, Bithumb and others take over 50% of the world’s daily crypto trading in the world.
Overall, our estimates can be fixed on trading/VIP discounts, market making, trading mining, and other factors that reduce the estimated revenues of exchanges. We will try to find the best model to fit the real estimated exchange revenues. 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.