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 3, 2026. 85 of them score above 2,500 on the Herfindahl index, the published threshold for a concentrated market: apxUSD, AUSD, Beldex, and 82 more. 1 trade across enough venues to sit below 1,500, where losing any one exchange would not strand the market. Every figure is volume as reported to CoinGecko on September 4, 2026, across the exchanges RampAtlas tracks that CoinGecko lists, not the whole market.

Verified September 4, 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, September 4, 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, September 4, 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, September 4, 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
BeldexBDX	BingX	100.0%	100.0%	10,000	3	Concentrated
BFUSDBFUSD	Binance	100.0%	100.0%	10,000	1	Concentrated
GateGT	Gate	100.0%	100.0%	10,000	3	Concentrated
HTX DAOHTX	CoinW	100.0%	100.0%	10,000	3	Concentrated
KuCoinKCS	Bybit	100.0%	100.0%	10,000	2	Concentrated
SoFiUSDSOFID	Bullish	100.0%	100.0%	10,000	1	Concentrated
USDGOUSDGO	Bitget	100.0%	100.0%	10,000	3	Concentrated
USDtbUSDTB	Bybit	100.0%	100.0%	10,000	1	Concentrated
币安人生 (BinanceLife)币安人生	Binance	100.0%	100.0%	10,000	2	Concentrated
Falcon USDUSDF	MEXC	99.9%	100.0%	9,987	2	Concentrated
Bitget TokenBGB	Bitget	99.9%	100.0%	9,975	5	Concentrated
United StablesU	Binance	99.8%	100.0%	9,963	4	Concentrated
Ondo US Dollar YieldUSDY	Gate	99.8%	100.0%	9,957	3	Concentrated
PonsPONS	Gate	99.7%	100.0%	9,930	3	Concentrated
Ape and PepeAPEPE	BingX	94.1%	100.0%	8,868	3	Concentrated
TrueUSDTUSD	Gate	92.3%	99.8%	8,550	5	Concentrated
AkedoAKE	Gate	87.8%	100.0%	7,860	6	Concentrated
PayPal USDPYUSD	Bullish	87.7%	97.1%	7,756	11	Concentrated
EURCEURC	Coinbase Exchange	86.5%	100.0%	7,654	4	Concentrated
Ripple USDRLUSD	Binance	84.8%	99.3%	7,291	14	Concentrated
NEXONEXO	Binance	83.4%	96.6%	7,054	8	Concentrated
MantleMNT	Bybit	81.5%	90.8%	6,702	19	Concentrated
Ethena USDeUSDE	Bybit	79.2%	99.3%	6,643	10	Concentrated
Cash CatCASHCAT	Gate	79.0%	100.0%	6,519	7	Concentrated
USDCUSDC	Binance	78.7%	89.7%	6,278	32	Concentrated
LEO TokenLEO	Bitfinex	77.8%	100.0%	6,542	2	Concentrated
Pudgy PenguinsPENGU	Bullish	76.6%	90.9%	6,008	24	Concentrated
RainRAIN	BingX	72.7%	100.0%	6,032	6	Concentrated
First Digital USDFDUSD	Binance	72.6%	99.6%	5,929	7	Concentrated
USD1USD1	Binance	71.0%	95.1%	5,544	17	Concentrated
USDDUSDD	Gate	70.8%	100.0%	5,867	3	Concentrated
DaiDAI	Kraken	70.7%	99.9%	5,496	3	Concentrated
MoneroXMR	Kraken	70.5%	100.0%	5,842	4	Concentrated
PancakeSwapCAKE	Binance	68.7%	82.7%	4,874	20	Concentrated
DashDASH	Binance	66.9%	88.0%	4,754	13	Concentrated
BNBBNB	Binance	66.8%	86.1%	4,701	29	Concentrated
PendlePENDLE	Binance	65.4%	83.6%	4,535	18	Concentrated
Terra Luna ClassicLUNC	Binance	65.3%	87.6%	4,547	12	Concentrated
GnosisGNO	Binance	64.8%	89.6%	4,630	9	Concentrated
JUSTJST	Binance	64.6%	94.7%	4,756	10	Concentrated
PAX GoldPAXG	Binance	64.0%	82.9%	4,322	21	Concentrated
CantonCC	Bybit	63.8%	88.1%	4,456	16	Concentrated
KiteKITE	Binance	63.3%	82.5%	4,282	15	Concentrated
ConfluxCFX	Binance	62.2%	82.1%	4,164	14	Concentrated
WhiteBIT CoinWBT	Bitfinex	60.8%	100.0%	5,235	3	Concentrated
GHOGHO	Gate	59.5%	100.0%	5,179	1	Concentrated
World Liberty FinancialWLFI	Binance	58.6%	80.9%	3,766	25	Concentrated
MorphoMORPHO	Binance	58.3%	79.3%	3,724	21	Concentrated
Ether.fiETHFI	Binance	57.5%	76.5%	3,568	19	Concentrated
MonadMON	Bybit	56.7%	84.9%	3,779	16	Concentrated
PieversePIEVERSE	Bybit	56.2%	86.1%	3,741	10	Concentrated
Official TrumpTRUMP	Binance	55.8%	74.8%	3,417	23	Concentrated
CronosCRO	Crypto.com Exchange	54.7%	85.2%	3,507	18	Concentrated
UnibaseUB	Gate	54.4%	100.0%	4,050	6	Concentrated
PepePEPE	Binance	54.2%	73.3%	3,225	25	Concentrated
MemeCoreM	Gate	53.5%	100.0%	5,024	6	Concentrated
Pyth NetworkPYTH	Binance	52.0%	72.7%	3,057	22	Concentrated
SeiSEI	Binance	51.5%	75.5%	3,071	17	Concentrated
ZcashZEC	Binance	51.4%	90.0%	3,501	16	Concentrated
Global DollarUSDG	Bullish	51.4%	100.0%	4,804	9	Concentrated
Artificial Superintelligence AllianceFET	Binance	51.3%	73.7%	3,003	22	Concentrated
Venice TokenVVV	Coinbase Exchange	51.2%	81.9%	3,235	16	Concentrated
LayerZeroZRO	Binance	50.9%	71.7%	2,923	21	Concentrated
Sun TokenSUN	Binance	50.9%	80.8%	3,152	11	Concentrated
DecredDCR	Binance	50.5%	95.5%	3,788	6	Concentrated
Pump.funPUMP	Binance	50.2%	75.9%	2,957	26	Concentrated
MidnightNIGHT	Binance	48.1%	85.4%	3,115	11	Concentrated
TRONTRX	Binance	48.0%	73.5%	2,817	30	Concentrated
ArbitrumARB	Binance	48.0%	62.9%	2,577	30	Concentrated
SuiSUI	Binance	47.5%	64.7%	2,579	30	Concentrated
Bitcoin SVBSV	Gate	46.4%	94.0%	3,757	6	Concentrated
Internet ComputerICP	Binance	46.2%	71.6%	2,623	21	Concentrated
POL (ex-MATIC)POL	Binance	45.3%	69.5%	2,512	28	Concentrated
JupiterJUP	Binance	44.8%	72.1%	2,515	22	Concentrated
Aerodrome FinanceAERO	Coinbase Exchange	44.6%	84.4%	3,011	18	Concentrated
Gram (prev. Toncoin)GRAM	Binance	44.3%	86.8%	3,017	20	Concentrated
RenderRENDER	Binance	44.3%	70.7%	2,475	21	Moderate
Lido DAOLDO	Binance	44.1%	77.9%	2,886	22	Concentrated
BonkBONK	Binance	44.1%	65.2%	2,395	23	Moderate
AptosAPT	Binance	43.6%	71.4%	2,431	22	Moderate
FlareFLR	Coinbase Exchange	43.5%	80.6%	2,647	16	Concentrated
EthenaENA	Binance	43.2%	77.7%	2,626	23	Concentrated
CelestiaTIA	Binance	43.2%	67.1%	2,381	17	Moderate
StacksSTX	Binance	43.1%	74.3%	2,499	17	Moderate
BitwayBTW	Bitget	42.8%	100.0%	3,527	6	Concentrated
DogecoinDOGE	Binance	42.8%	64.7%	2,231	35	Moderate
Tether GoldXAUT	Binance	42.0%	77.8%	2,522	21	Concentrated
UniswapUNI	Binance	41.8%	63.3%	2,165	36	Moderate
HederaHBAR	Binance	41.8%	73.7%	2,486	26	Moderate
NEAR ProtocolNEAR	Binance	41.2%	66.1%	2,240	29	Moderate
Bitcoin CashBCH	Binance	40.8%	66.8%	2,188	35	Moderate
OKBOKB	Bitunix	40.6%	97.0%	3,258	9	Concentrated
FilecoinFIL	Binance	39.9%	66.4%	2,107	22	Moderate
BittensorTAO	Binance	39.5%	68.3%	2,242	20	Moderate
Shiba InuSHIB	Binance	38.8%	60.0%	1,935	28	Moderate
Ethereum ClassicETC	Binance	37.4%	73.2%	2,197	20	Moderate
StellarXLM	Binance	37.3%	69.3%	2,194	34	Moderate
AvalancheAVAX	Binance	36.8%	64.2%	1,956	34	Moderate
SkySKY	Binance	36.7%	67.8%	2,010	18	Moderate
Pi NetworkPI	Gate	36.6%	88.5%	2,800	8	Concentrated
BitTorrentBTT	Binance	35.8%	67.1%	2,130	13	Moderate
WorldcoinWLD	Binance	35.7%	75.4%	2,310	22	Moderate
SPX6900SPX	Bybit	35.4%	81.5%	2,431	16	Moderate
Virtuals ProtocolVIRTUAL	Binance	35.0%	75.5%	2,144	25	Moderate
LitecoinLTC	Binance	34.7%	59.0%	1,728	35	Moderate
InjectiveINJ	Binance	33.9%	63.3%	1,792	25	Moderate
VeChainVET	Binance	33.8%	62.6%	1,796	18	Moderate
Falcon FinanceFF	Binance	33.7%	76.1%	2,243	14	Moderate
Curve DAOCRV	Binance	33.7%	68.0%	1,907	27	Moderate
LighterLIT	Bybit	33.5%	73.0%	2,086	16	Moderate
AlgorandALGO	Coinbase Exchange	33.3%	71.7%	2,109	22	Moderate
AsterASTER	Bybit	33.3%	77.3%	2,228	23	Moderate
EthereumETH	Binance	33.1%	51.0%	1,509	40	Moderate
XRPXRP	Binance	32.6%	58.9%	1,611	38	Moderate
CardanoADA	Binance	32.4%	56.4%	1,637	31	Moderate
SolanaSOL	Binance	31.9%	56.8%	1,552	39	Moderate
Cosmos HubATOM	Binance	31.0%	59.0%	1,672	23	Moderate
OndoONDO	Binance	30.4%	62.0%	1,685	27	Moderate
StableSTABLE	Bithumb	30.4%	81.4%	2,339	11	Moderate
ChainlinkLINK	Binance	30.1%	62.8%	1,680	38	Moderate
AaveAAVE	Binance	29.9%	67.9%	1,869	29	Moderate
XDC NetworkXDC	Kraken	29.4%	55.1%	1,522	15	Moderate
PolkadotDOT	Binance	28.0%	70.5%	1,931	27	Moderate
QuantQNT	Binance	27.3%	65.8%	1,749	17	Moderate
KaspaKAS	Bybit	26.0%	72.0%	1,977	11	Moderate
TetherUSDT	Coinbase Exchange	25.1%	64.4%	1,657	25	Moderate
BitcoinBTC	Binance	25.0%	43.2%	1,119	44	Dispersed
HyperliquidHYPE	Coinbase Exchange	24.8%	64.1%	1,670	27	Moderate

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

Not sampled yet

Guides

See also