Exchange Concentration Risk

Of the 130 coins RampAtlas has sampled, apxUSD leans hardest on a single venue: 100.0% of its reported volume ran through Kraken on September 30, 2026. 94 of them score above 2,500 on the Herfindahl index, the published threshold for a concentrated market: apxUSD, AUSD, BFUSD, and 91 more. Every figure is volume as reported to CoinGecko on October 13, 2026, across the exchanges RampAtlas tracks that CoinGecko lists, not the whole market.

Verified October 13, 2026How we verify

The Herfindahl-Hirschman Index adds up each venue’s squared percentage share of a coin’s reported volume, so one exchange holding everything scores 10,000 and many even venues score near zero. The bands are the published merger-guideline thresholds: below 1,500 dispersed, 1,500 to 2,500 moderate, above 2,500 concentrated. They describe how a market is spread, not how safe any exchange is. Volume as reported to CoinGecko, October 13, 2026. Covers the exchanges RampAtlas tracks that CoinGecko lists, not the whole market.

Share held by the single largest venueThe 10 sampled coins whose volume is most concentrated on one exchange. Volume as reported to CoinGecko, October 13, 2026. Covers the exchanges RampAtlas tracks that CoinGecko lists, not the whole market.

Concentration by coin

130 of the 150 coins RampAtlas tracks have a volume sample. Volume as reported to CoinGecko, October 13, 2026. Covers the exchanges RampAtlas tracks that CoinGecko lists, not the whole market.
Coin	Largest venue	Top share	Top 3 share	HHI	Exchanges listing	Band
apxUSDAPXUSD	Kraken	100.0%	100.0%	10,000	1	Concentrated
AUSDAUSD	Kraken	100.0%	100.0%	10,000	1	Concentrated
BFUSDBFUSD	Binance	100.0%	100.0%	10,000	1	Concentrated
DaiDAI	Bitbank	100.0%	100.0%	10,000	3	Concentrated
EURCEURC	OKX	100.0%	100.0%	10,000	4	Concentrated
Falcon USDUSDF	MEXC	100.0%	100.0%	10,000	2	Concentrated
GateGT	LBank	100.0%	100.0%	10,000	3	Concentrated
GHOGHO	Bitget	100.0%	100.0%	10,000	1	Concentrated
HTX DAOHTX	KuCoin	100.0%	100.0%	10,000	3	Concentrated
KuCoinKCS	KuCoin	100.0%	100.0%	10,000	2	Concentrated
Ondo US Dollar YieldUSDY	LBank	100.0%	100.0%	10,000	3	Concentrated
USDtbUSDTB	Bybit	100.0%	100.0%	10,000	1	Concentrated
WhiteBIT CoinWBT	Bitfinex	100.0%	100.0%	10,000	3	Concentrated
SoFiUSDSOFID	Bullish	99.6%	100.0%	9,918	1	Concentrated
Bitget TokenBGB	Bitget	99.0%	99.9%	9,805	5	Concentrated
United StablesU	Binance	95.1%	100.0%	9,068	4	Concentrated
Ripple USDRLUSD	Binance	93.9%	99.9%	8,838	14	Concentrated
币安人生 (BinanceLife)币安人生	Binance	93.6%	100.0%	8,796	2	Concentrated
StableSTABLE	LBank	93.1%	96.9%	8,675	11	Concentrated
USD1USD1	Binance	92.4%	97.4%	8,548	17	Concentrated
USDGOUSDGO	Bitget	91.7%	100.0%	8,471	3	Concentrated
BitwayBTW	Bitget	91.4%	100.0%	8,408	6	Concentrated
First Digital USDFDUSD	Binance	90.8%	99.7%	8,294	7	Concentrated
TrueUSDTUSD	BingX	90.3%	100.0%	8,256	5	Concentrated
LEO TokenLEO	Bitfinex	88.8%	100.0%	8,004	2	Concentrated
MoneroXMR	KuCoin	87.6%	100.0%	7,752	4	Concentrated
RainRAIN	BingX	86.3%	100.0%	7,584	6	Concentrated
OKBOKB	OKX	84.8%	99.4%	7,366	9	Concentrated
USDCUSDC	Binance	83.0%	93.1%	6,958	32	Concentrated
Sun TokenSUN	Binance	81.3%	97.2%	6,761	11	Concentrated
NEXONEXO	Binance	80.8%	99.7%	6,726	8	Concentrated
Bitcoin SVBSV	Bitget	75.3%	100.0%	6,284	6	Concentrated
JUSTJST	Binance	72.8%	96.6%	5,611	10	Concentrated
Global DollarUSDG	OKX	72.3%	99.9%	5,879	9	Concentrated
DecredDCR	Binance	69.3%	100.0%	5,283	6	Concentrated
Ape and PepeAPEPE	BingX	69.2%	100.0%	5,736	3	Concentrated
VeChainVET	Binance	68.4%	87.2%	4,895	18	Concentrated
Falcon FinanceFF	Binance	67.4%	85.7%	4,805	14	Concentrated
Pi NetworkPI	OKX	65.4%	96.5%	4,778	8	Concentrated
MemeCoreM	Bitget	65.2%	100.0%	5,465	6	Concentrated
QuantQNT	Binance	63.7%	86.3%	4,360	17	Concentrated
ConfluxCFX	Binance	60.2%	92.2%	4,192	14	Concentrated
BitTorrentBTT	Upbit	59.8%	91.5%	4,339	13	Concentrated
Gram (prev. Toncoin)GRAM	Binance	59.7%	88.4%	4,114	20	Concentrated
PancakeSwapCAKE	Binance	58.2%	83.8%	3,792	20	Concentrated
Ethena USDeUSDE	MEXC	57.5%	93.0%	3,978	10	Concentrated
AptosAPT	Binance	56.8%	79.1%	3,597	22	Concentrated
Artificial Superintelligence AllianceFET	Binance	56.4%	79.8%	3,545	22	Concentrated
MantleMNT	Zoomex	54.1%	94.8%	3,864	19	Concentrated
POL (ex-MATIC)POL	Binance	54.1%	84.0%	3,435	28	Concentrated
MorphoMORPHO	Binance	53.8%	81.9%	3,395	21	Concentrated
BNBBNB	Binance	53.2%	88.0%	3,566	29	Concentrated
PAX GoldPAXG	LBank	53.0%	89.4%	3,621	21	Concentrated
BeldexBDX	KuCoin	52.2%	100.0%	4,713	3	Concentrated
StacksSTX	Binance	52.0%	85.9%	3,479	17	Concentrated
SkySKY	Binance	51.7%	76.3%	3,113	18	Concentrated
WorldcoinWLD	Binance	51.5%	77.0%	3,153	22	Concentrated
SeiSEI	KuCoin	51.2%	85.9%	3,428	17	Concentrated
USDDUSDD	KuCoin	51.2%	100.0%	5,003	3	Concentrated
PieversePIEVERSE	LBank	51.2%	92.4%	3,567	10	Concentrated
ZcashZEC	Binance	51.0%	73.9%	3,072	16	Concentrated
NEAR ProtocolNEAR	Binance	49.8%	68.5%	2,854	29	Concentrated
Internet ComputerICP	Binance	49.1%	77.0%	2,936	21	Concentrated
World Liberty FinancialWLFI	Binance	49.1%	74.1%	2,892	25	Concentrated
Pudgy PenguinsPENGU	Binance	48.3%	71.5%	2,780	24	Concentrated
AvalancheAVAX	Binance	47.9%	72.5%	2,740	34	Concentrated
Cash CatCASHCAT	Upbit	47.8%	83.3%	3,056	7	Concentrated
DashDASH	Binance	47.8%	76.1%	2,880	13	Concentrated
KiteKITE	Binance	47.0%	84.8%	3,175	15	Concentrated
XDC NetworkXDC	KuCoin	46.5%	81.0%	2,888	15	Concentrated
CronosCRO	OKX	46.4%	82.7%	3,180	18	Concentrated
AlgorandALGO	Binance	46.2%	74.5%	2,679	22	Concentrated
CelestiaTIA	Binance	46.1%	79.2%	2,785	17	Concentrated
InjectiveINJ	Binance	46.1%	75.6%	2,719	25	Concentrated
Lido DAOLDO	Binance	45.7%	75.0%	2,668	22	Concentrated
SuiSUI	Binance	45.6%	66.7%	2,545	30	Concentrated
RenderRENDER	Binance	45.2%	68.6%	2,491	21	Moderate
PendlePENDLE	Binance	44.7%	69.7%	2,505	18	Concentrated
BonkBONK	Binance	44.5%	66.6%	2,404	23	Moderate
Terra Luna ClassicLUNC	Binance	44.2%	93.7%	3,750	12	Concentrated
PonsPONS	OKX	43.8%	89.1%	3,522	3	Concentrated
Aerodrome FinanceAERO	Binance	43.7%	82.8%	2,812	18	Concentrated
Ether.fiETHFI	Binance	43.6%	81.2%	2,828	19	Concentrated
HederaHBAR	Binance	43.4%	67.5%	2,379	26	Moderate
TRONTRX	Binance	43.3%	71.6%	2,489	30	Moderate
LayerZeroZRO	Binance	43.3%	68.0%	2,372	21	Moderate
PepePEPE	Binance	43.0%	71.8%	2,426	25	Moderate
JupiterJUP	Binance	42.8%	65.5%	2,330	22	Moderate
Curve DAOCRV	Binance	42.7%	68.3%	2,360	27	Moderate
Bitcoin CashBCH	Binance	42.1%	75.1%	2,533	35	Concentrated
Pyth NetworkPYTH	Binance	41.6%	72.6%	2,387	22	Moderate
UniswapUNI	Binance	41.2%	68.1%	2,288	36	Moderate
GnosisGNO	Bithumb	41.1%	100.0%	3,639	9	Concentrated
Pump.funPUMP	Binance	41.0%	75.8%	2,528	26	Concentrated
MidnightNIGHT	Binance	40.9%	81.4%	2,644	11	Concentrated
BittensorTAO	Binance	40.7%	86.7%	3,053	20	Concentrated
ArbitrumARB	Binance	40.6%	73.0%	2,356	30	Moderate
OndoONDO	Binance	39.9%	70.9%	2,217	27	Moderate
CardanoADA	Binance	39.8%	65.3%	2,094	31	Moderate
LighterLIT	OKX	39.2%	83.6%	2,671	16	Concentrated
Cosmos HubATOM	Binance	39.0%	61.8%	2,088	23	Moderate
DogecoinDOGE	Binance	38.2%	73.3%	2,237	35	Moderate
Official TrumpTRUMP	Binance	37.7%	72.4%	2,273	23	Moderate
Ethereum ClassicETC	Binance	37.5%	74.6%	2,380	20	Moderate
EthereumETH	Binance	37.5%	62.6%	1,931	40	Moderate
HyperliquidHYPE	Binance	37.5%	80.6%	2,607	27	Concentrated
SolanaSOL	Binance	37.0%	66.1%	2,028	39	Moderate
KaspaKAS	MEXC	36.9%	81.4%	2,640	11	Concentrated
BitcoinBTC	Binance	35.4%	59.4%	1,782	44	Moderate
FilecoinFIL	Binance	35.2%	74.3%	2,311	22	Moderate
PayPal USDPYUSD	Bitget	35.2%	81.8%	2,675	11	Concentrated
ChainlinkLINK	Binance	34.9%	70.5%	2,075	38	Moderate
Shiba InuSHIB	KuCoin	34.8%	79.5%	2,607	28	Concentrated
EthenaENA	Binance	34.0%	68.7%	2,042	23	Moderate
UnibaseUB	KuCoin	33.6%	86.1%	2,715	6	Concentrated
XRPXRP	Binance	33.0%	63.7%	1,776	38	Moderate
AsterASTER	Binance	32.8%	78.0%	2,202	23	Moderate
SPX6900SPX	Bithumb	32.7%	68.4%	2,052	16	Moderate
AkedoAKE	LBank	32.3%	86.5%	2,717	6	Concentrated
PolkadotDOT	Binance	31.9%	68.3%	2,051	27	Moderate
MonadMON	LBank	31.9%	86.5%	2,549	16	Concentrated
LitecoinLTC	Binance	31.9%	61.4%	1,794	35	Moderate
FlareFLR	OKX	30.1%	68.4%	1,990	16	Moderate
StellarXLM	Binance	29.4%	72.7%	2,026	34	Moderate
Virtuals ProtocolVIRTUAL	Binance	29.1%	68.2%	1,792	25	Moderate
Tether GoldXAUT	Bitget	28.8%	65.2%	1,792	21	Moderate
AaveAAVE	Binance	28.1%	65.8%	1,850	29	Moderate
CantonCC	LBank	28.1%	71.1%	1,970	16	Moderate
Venice TokenVVV	KuCoin	25.6%	69.6%	1,988	16	Moderate
TetherUSDT	Bitfinex	20.8%	59.5%	1,542	25	Moderate

Trend for the most concentrated coin

Kraken's share of apxUSD volumeThe last 2 daily samples. Volume as reported to CoinGecko, September 30, 2026. Covers the exchanges RampAtlas tracks that CoinGecko lists, not the whole market.

Not sampled yet

20 tracked coins have no volume sample on any exchange we track that CoinGecko lists, so they have no concentration figure. This is a gap in our sampling, not a finding about the coin.

Guides

Self-Custody vs Exchange Custody: How to Decide
Deciding between self-custody and exchange custody means choosing which failure you would rather be exposed to, a company that loses or freezes your assets or a mistake of your own that nobody can undo, and most people resolve it by splitting holdings rather than picking one for everything.
How to Verify a Token Contract Address Before You Buy
A token's contract address is its only real identity, so verifying one means getting the address from the project's own official channel, confirming the same address independently from a second source, and checking on a block explorer that the contract is what it claims to be before you trade against it.
Choosing Your First Crypto Wallet
Choosing a first wallet comes down to one question, whether a company holds your keys or you do, and the right answer depends on how much you hold, how often you move it, and how confident you are about storing a recovery phrase safely for years.

Concentration by coin

Trend for the most concentrated coin

Not sampled yet

Guides

See also