Published on August 11, 2023 10:04 GMT+00:00edited on August 11, 2023 10:09 GMT+00:00

California-based crypto exchange Kraken has become the go-to market in the U.S. for altcoin trading, according to data from crypto research firm Kaiko, outpacing rivals like Coinbase.

Kraken commands 47% of the market depth for the top 10 altcoins, according to Kaiko. Market depth refers to a given market's ability to absorb a large buy or sell order without impacting the price of that market's asset. In the wake of last year's price drawdown and the meltdown of FTX, market depth and liquidity have been negatively impacted across exchanges and cryptocurrencies. 

[caption id="attachment_244350" align="alignnone" width="800"] Source: Kaiko[/caption]

Increasing marketshare

In addition to its more robust market depth in alts, Kraken's marketshare among exchanges that support USD …