Spot trading volume on Atom Asset Exchange (AAX) rose 26.5% to $57.2bn, making it the largest exchange by volume after Binance for the first time in its history, according to CryptoCompare’s latest Exchange Review published in July 2022.
The exchange, powered by the London Stock Exchange Group’s LSEG Technology, has seen a spike in trading volume since the start of the year, rising 285% from $14.9bn during the period.
According to the review, Binance remains the largest exchange by spot trading volume with a market share of 54.0%, rising 10.3% to $439bn.
FTX and OKX followed AAX, with a trading volume of $56.9bn and $55.6bn,
respectively.
Coinbase continued its decline in spot trading volume, falling 12.8% to $51.5bn, according to the review.
Meanwhile, CoinGecko, a data aggregation platform for the crypto market, has ranked AAX as one of the most trusted cryptocurrency trading platforms.
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.
“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,” he said.
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.
