Rising Stars in Crypto Derivatives: Exploring the Top Centralized Exchanges to Watch

In the modern world of Web3, the number of centralized crypto exchanges is rapidly growing, each doing its best to attract users from all over the planet. There are currently many such platforms; among them, some top-rated exchanges stand out for trading cryptocurrency derivatives. These leading exchanges make up the list of the best in their field, providing unique opportunities for trading derivative instruments based on cryptocurrencies.

However, it's worth noting that this list of top exchanges frequently changes. In the fast-evolving market, it's crucial to constantly stay updated and monitor which platforms are at the top among many centralized exchanges. We've touched on such lists before, but in this article, the Coinmooner team wants to draw your attention to other centralized exchanges that are in the top 10 and have significant potential, even though they have not yet reached the level of giants like Bybit, OKX, or Binance.

In this article, we will provide detailed information about three of these top exchanges and explain how they made it to this list. We will consider important factors such as liquidity, market strength, buying power, history, and interesting facts, all of which have helped them come close to the top leaders. These key indicators will help our readers choose the most reliable and popular platforms for trading cryptocurrency derivatives, and we are ready to provide you with information about three of them worth noting in the market.

DERIBIT

The first exchange our Coinmooner team wants to discuss is Deribit, which ranks 8th among all crypto exchanges worldwide. This cryptocurrency exchange specializes in trading futures and options. Founded in June 2016 and located in Amsterdam, it quickly gained recognition for its reliability and wide range of trading tools.

The exchange significantly impacts the cryptocurrency derivatives market. Over the last 24 hours, the trading volume of derivatives on Deribit has been over $401 million, equivalent to 6,905 BTC. This indicates a high level of liquidity and activity on the platform.

Deribit dominates the derivatives trading segment, with assets totaling over $3.2 billion. The exchange ranks eighth among cryptocurrency derivatives exchanges, confirming its importance.

Regarding token distribution on the platform, most assets are in BTC(70.72%) and ETH (23.76%). The remaining assets include USDC, stETH, and USDT, indicating a balanced approach to asset management.

Deribit also impacts the Web3 world by providing traders and investors with tools for hedging risks and speculation. This helps improve market liquidity and stimulates the development of new financial products and services in the crypto space.

DEEPCOIN

Next, Coinmooner wants to highlight a crypto exchange that ranks sixth on the list: Deepcoin. This centralized cryptocurrency exchange, based in Singapore and launched in 2018, offers a wide range of financial services, including spot trading, derivatives, capital management, and DeFiinvestments. The exchange primarily targets the Asian market and provides innovative products like Super Saving, Lucky Money, and Options FX.

Eagle Huang, the founder of Deepcoin, has over ten years of experience in digital financial services and previously led a capital management company with over $7 billion assets. This highlights the exchange team's high level of expertise and strategic vision.

Although Deepcoin was launched in Singapore, there is some confusion about its current location. The exchange's LinkedIn page lists its headquarters in Denver, Colorado, while its website states that the main office is in Singapore, with branches in Japan, Canada, South Africa, and other countries.

The exchange operates in over 200 countries, but access is restricted in some jurisdictions, such as the USA, Cuba, Iran, North Korea, and others, due to regulatory requirements and sanctions.

Deepcoin supports 216 active trading pairs, including popular ones like BTC/USDT, ETH/USDT, and XRP/USDT, as well as fiat currencies like USD, EUR, and GBP. The exchange also holds significant licenses, including NFA and MSB licenses in the USA, FINTRAC in Canada, and DMCC in the UAE.

The exchange is known for its low fee of 0.10% per side on spot trades, though since September 2022, all spot trades on the platform have been free. Deepcoin also offers margin trading with leverage up to 125x, making it attractive for active traders.

According to the latest report, the trading volume of derivatives on Deepcoin in the past 24 hours is over $11 billion, equivalent to 195,350 BTC. The exchange's total assets amount to around $162 million. This underscores its strong presence in the cryptocurrency derivatives sector and influence on the global financial market.

XT

Finally, Coinmooner wants to highlight a crypto exchange that ranks fourth in the global top, trailing only behind giants like OKX, Bybit, and Binance. This exchange is XT.COM, founded in 2018 in the Seychelles and currently headquartered in Singapore. It quickly established itself as a reliable and innovative player in the cryptocurrency market, offering users a wide range of services, including spot trading, OTC transactions, margin trading, futures, and derivatives.

XT.COM supports over 800 tokens and more than 1000 trading pairs, including popular cryptocurrencies like BTC, ETH, SOL, and BNB. The exchange is known for its extensive functionality and advanced trading tools, such as real-time market data, charts, and various order types, making it attractive for beginners and professional traders. Users can also take advantage of Staking, Saving, and Mining features.

One of XT.COM's key aspects is its focus on security and user experience. The exchange protects against DDoS attacks, uses a three-key security structure, and stores digital assets in cold wallets, helping to maintain a high level of data integrity and security.

Albin Varin, the CEO of XT.COM, is an experienced entrepreneur in the tech and blockchain sectors. His active work in Web3 and the creation of The Blockchain Happiness Project reflect his commitment to developing an open financial ecosystem.

The exchange offers margin trading with leverage up to 20x and provides standard and professional margin trading options. Trading fees start at 0.05% for makers and 0.2% for takers, with cryptocurrency withdrawal fees varying depending on the token.

As of the latest report, the trading volume of derivatives on XT.COM in the past 24 hours is over $16 billion, equivalent to 285,816 BTC. The exchange's total assets amount to around $74 million. XT.COM is also actively expanding its presence, with operational centers in Japan, South Korea, Turkey, and Dubai. It serves over 6 million registered users and more than 500,000 active users per month.

In the world of Web3, knowledge plays a key role and is crucial for achieving financial success. A deep understanding of information about cryptocurrency exchanges, such as those mentioned in our news article, can significantly impact your choice of the right platform and your evaluation of its security, functionality, convenience, and other essential aspects.

Coinmooner aims to provide valuable information in the blockchain technology sector regularly. We work hard to offer current and helpful materials to help you navigate this fast-evolving and complex world.

Additionally, we want to remind you that in the Web3 industry, it is essential to exercise caution and use only advanced protection methods to ensure the safety of your finances. Be careful and responsible in your actions to minimize risks and maximize blockchain's opportunities.