So-called “top-tier” crypto exchanges have increased their market share from 89% in August 2021 to 96% in February 2022, according to data collected by British analytics firm CryptoCompare, published on Monday, April 11.

The company analyzed more than 150 active centralized exchanges, ranking them based on security, number of assets available, regulatory compliance, KYC checks and more, and rated them from a top score of AA to a low of F, calling the “top tier ” received a grade B. or above.

A total of 78 exchanges received a “top tier” rating, with Coinbase, Gemini, Bitstamp and Binance being the only four to receive the highest AA rating.

The report found that the top tier exchanges traded a total of 1.5 trillion in February 2022, compared to 62 billion on the “lower tier” exchanges. This is a metric that, according to CryptoCompare, shows that “both retail and professional traders are switching to lower-risk exchanges.”

Consolidation of stock exchanges has occurred through both stock exchange closures and acquisitions of other, larger stock exchanges. Top crypto exchanges eyeing overseas expansion sometimes acquire already licensed, smaller exchanges operating in the country of interest, as was the case with FTX's acquisition of Japan's Liquid Group exchange on February 2, 2022.

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