AAX ranked top digital asset exchange by CoinGecko and CryptoCompare

AAX, a leading digital asset exchange, has been recognized by CryptoCompare and CoinGecko for its spot trading volume increase.

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, ranked 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 released by CryptoCompare, AAX ranked number two in terms of the largest exchanges by spot trading volume.

According to the report, AAX has seen a 285% rise in 2022 and recorded a trading volume of $57.2 billion in July, which represents a 26.5% rise compared to June. AAX made registered the rise in spot trading despite the decline in spot trading volume across other crypto exchanges.

CoinGecko ranking

CoinCecko awarded AAX a Trust Score of 8 meaning AAX is now ranked 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 they should invest with.

Among the ranking criteria used by CoinGecko, AAX ranked favourably in cybersecurity, scale, API coverage, liquidity, and availability of a good team. CoinGecko also recognized AAX for not experiencing any security/functional issues that can affect the safety of users’ funds.

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-first platform around AAX’s website, its API, and Android and iOS apps.