Ascendex (formerly BitMax) is currently ranked 31st globally on the blockchain data authority CoinGecko and 26th on CoinMarketCap. Founded in 2018, the exchange is headquartered in Singapore and registered in the Cayman Islands. It specializes in derivatives trading, staking services, and early-stage project incubation.
Where Does Ascendex Rank Among Global Exchanges?
Ascendex holds a solid position within the highly competitive cryptocurrency exchange landscape. As of the latest data:
- CoinGecko Ranking: #31
- CoinMarketCap Ranking: #26
This places it within the top tier of global trading platforms. Originally launched as BitMax by a quantitative trading team with Wall Street experience, the exchange has built a reputation for its robust trading engine. It supports a wide array of digital assets and offers various transaction types, including spot and futures trading.
Comprehensive List of Top 50 Cryptocurrency Exchanges
For traders and investors, consulting authoritative aggregation sites is the best way to assess an exchange's standing based on liquidity, traffic, and trading volume. CoinMarketCap and CoinGecko are the two most trusted sources for this data.
The rankings are dynamic and change frequently based on real-time metrics. The following is a generalized overview of the tier structure within the top 50.
Tier 1: The Top 10
This elite group is dominated by well-established, high-liquidity giants like Binance, Coinbase, Kraken, and Kucoin. These platforms typically offer the deepest liquidity, a vast selection of assets, and strong security records, though they often face the most regulatory scrutiny.
Tier 2: Exchanges Ranked 11-20
This segment includes large, reputable exchanges that are highly popular globally or are dominant leaders in specific geographical regions. They offer a strong balance of asset variety, innovation, and liquidity.
Tier 3: Exchanges Ranked 21-30
This is where Ascendex's closest competitors reside. These platforms often differentiate themselves through specialized services, such as advanced derivatives, unique staking opportunities, or focus on particular emerging markets.
Tier 4: Exchanges Ranked 31-40
Ascendex currently sits within this bracket. Exchanges in this range are significant global players but may have more niche offerings or are in the process of expanding their market share. They can provide excellent opportunities but require more due diligence.
Tier 5: Exchanges Ranked 41-50
These are often newer exchanges or those focusing on very specific asset classes or regional audiences. While they can be sources of early investment opportunities, they may also come with higher inherent risks regarding liquidity and security.
It is crucial to conduct your own research beyond the ranking number. Always check an exchange's supported regions, fee structure, available trading pairs, and security history before committing funds. For a real-time view of the ever-shifting market standings, you can 👉 explore the latest exchange rankings.
Key Considerations and Risk Assessment for Ascendex
While Ascendex provides access to high-yield trading opportunities, users must be aware of several important risk factors.
Regulatory Status and Jurisdiction
Ascendex is registered in the Cayman Islands and lacks major financial licenses from jurisdictions like the United States or the European Union. This means users may have limited legal recourse in the event of a problem. The platform explicitly restricts users from mainland China and the U.S.; accessing it from these regions via VPN or with false information violates its terms of service and can lead to account suspension with funds frozen.
Security and Historical Incidents
Although the platform states that the majority of assets are held in cold storage, Ascendex suffered a significant security breach in the past where hackers stole a substantial amount of digital assets. While security has likely been improved, this historical event highlights the ever-present risk of technical vulnerabilities.
Trading Risks with Low-Liquidity Assets
The exchange is known for quickly listing new and emerging tokens (e.g., in Web3 and metaverse sectors). Many of these assets have low trading volume, making them susceptible to extreme price volatility. Large trades can cause dramatic price pumps and dumps, creating high risk for retail investors.
Quality of Listed Projects
In the race to list trending assets, some projects may be of lower quality. There is a risk of encountering tokens that plummet in value shortly after listing or, in worst-case scenarios, are outright exit scams.
Frequently Asked Questions
What was Ascendex formerly known as?
Ascendex originally launched under the name BitMax in 2018. The rebranding to Ascendex was part of a strategic shift to expand its global product offerings beyond its initial focus.
How often do exchange rankings change?
Rankings on sites like CoinMarketCap and CoinGecko are updated frequently, often daily. They are based on rolling metrics of traffic, liquidity, and trading volume, so an exchange's position can fluctuate over time.
Is it safe to trade on an exchange ranked outside the top 10?
Many exchanges outside the top 10 are safe and reputable. A ranking between 20-40 still indicates a large platform. Safety depends more on your own due diligence regarding the exchange's security practices, regulatory compliance, and transparency, not just its rank.
What are the main advantages of using Ascendex?
Its primary advantages include access to a wide range of derivatives products, competitive staking yields, and early access to tokens from new projects through its incubation and launchpad services.
What should I do if my country is restricted by Ascendex?
You should strictly adhere to the exchange's terms of service. Attempting to bypass geographical restrictions using VPNs or false information puts your account and funds at risk of being permanently locked. Seek out alternative platforms that officially service your region.
How can I stay updated on exchange security?
Always enable all available security features (2FA, whitelisting, etc.) on any exchange you use. Follow reputable crypto news sources and audit firms for reports on platform hacks or vulnerabilities. 👉 Learn more about securing your digital assets.
In summary, Ascendex is a prominent global exchange ranked in the 30s, known for its derivative products and swift listing of new assets. However, users must carefully weigh its regulatory status, historical security events, and the inherent risks of trading volatile, low-liquidity tokens before participating.