CryptoCompare acknowledged the increase of AAX’s spot trading volume in July.
CoinGecko ranked AAX as one of the top 20 and most trusted cryptocurrency exchanges.
VICTORIA, SEYCHELLES –
Media OutReach – 24 August 2022 –
AAX, a digital asset exchange for everyone, announced today that it has been recognized by CryptoCompare, an FCA authorized and regulated global leader in digital asset data, for its increase in spot trading volume in July 2022.
CoinGecko, a leading data aggregation platform for the crypto market, has also ranked AAX as one of the most trusted cryptocurrency trading platforms.
CryptoCompare Exchange Review
According to CryptoCompare’s latest
Exchange Review published in July 2022, AAX has been ranked the second-largest exchange by spot trading volume, with a rise of 285% in 2022. In July 2022, the digital asset exchange recorded US$57.2 billion in volume, a 26.5% rise from June, despite the decline of spot trading volumes across all centralized crypto exchanges.
CoinGecko Ranks Top Cryptocurrency Exchanges
CoinGecko has awarded AAX a Trust Score of 8, which indicates an increase. The new score indicates that AAX is now ranked as a
3-star Certified Ethereum Professional (CEP) Exchange.
Among the ranking criteria, AAX scored favorably in terms of liquidity, scale, cybersecurity, API coverage, and the availability of a senior leadership team. AAX was also recognized as a digital asset exchange that has not yet experienced security/functional issues that can potentially affect a user’s fund safety.
AAX’s Bug Bounty Program on HackenProof
AAX’s improved Trust Score follows the launch of its recent bug bounty program on
HackenProof. The bug bounty program opens the door to the community and aims to shape a security-first platform with four top priorities – AAX’s website, its API, Android and iOS apps. The program offers payouts of up to $1,500 per critical vulnerability discovered, with smaller rewards for less critical bugs.
“Trust has alway been one of AAX’s core principles, along with security, integrity, and performance,” said Ben Caselin, VP of Global Marketing and Head of Research & Strategy at AAX. “Fully delivering on these principles takes time and constant improvement. It is great to see our achievements reflected in CoinGecko’s ranking as we continue to enhance our technological capability and services for our users..”
CoinGecko Guides Investors to the Best Exchanges with Its Trust Score
CoinGecko rolled out its Trust Score algorithm in 2019 to provide its users with transparent data so that they can make informed decisions on which platform they should entrust with their funds. In addition to liquidity, the CoinGecko Trust Score ranks exchanges based on trading activity, scale, technical expertise, cybersecurity, and other metrics.
For traders, it is of utmost importance to choose a trusted exchange. The crypto industry has been hit with multiple hacks on exchanges and DeFi protocols in recent months. One recent report by Atlas VPN found that hackers
stole over $672 million through various heists and scams in the first three months of 2022 alone. Moreover, hacks on unregulated crypto exchanges and DeFi platforms have become
common, resulting in millions of dollars of investors’ funds lost.