AAX, a leading digital asset exchange, has been recognized by CryptoCompare and CoinGecko for increasing spot trading volume.
The FCA authorized and regulated global leader in digital asset data, CryptoCompare, has recognized AAX for its increase in spot trading volume specifically in July. On the other hand, CoinGecko, a leading crypto market data aggregation platform, has rated AAX as one of the most trusted crypto trading platforms.
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CryptoCompare’s Latest Exchange Review
According to the latest Exchange Review for the month of July published by CryptoCompare, AAX ranked number two in terms of largest exchanges by spot trading volume.
According to the report, AAX was up 285% in 2022 and recorded a transaction volume of $57.2 billion in July, which is up 26.5% from June. AAX recorded the rise in spot trading despite falling spot trading volume on other crypto exchanges.
CoinCecko has given AAX a Trust Score of 8, which means that AAX is now classified as a 3-star Certified Ethereum Professional (CEP) exchange.
CoinGecko launched its Trust Score algorithm in 2019 to provide users with transparent data to help them make informed decisions when choosing which platform to invest in.
Among the ranking criteria used by CoinGecko, AAX ranked favorably in cybersecurity, scale, API coverage, liquidity, and availability of a good team. CoinGecko has also recognized AAX for having no security/functional issues that may affect the security of user funds.
The AAX trust score specifically improved after the exchange launched its bug bounty program on HackenProof. The Bug Bounty program, which offers payouts of up to $1,500 per critical vulnerability discovered, aims to shape a security-focused platform around AAX’s website, API, and Android and iOS apps.
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