Every decision we make returns to one principle. We will build the best possible experience for you. So we’re proud to announce it Silkworm ranked Kraken as the No. 1 global crypto exchange in 2025 – This is the first-ever top finish, and has steadily risen from third place in the first quarter of 2025 to #2 in the second quarter of 2025.

This perception is more than where we stand now. That’s about how we got here. Listen to our clients, strengthen our infrastructure and drive the industry forward with transparency and trust.

First of all, who is the silkworm?

Kaiko is one of the world’s leading providers of digital asset market data. Quarterly Exchange Ranking Methodology evaluates global trading venues across a wide range of criteria, including governance, security, technology, liquidity, business and data quality. The rankings are widely held institutions, regulators and market participants, making them a meaningful benchmark for exchange quality and reliability.

Climb #1: What the rankings reveal

Kaiko’s top position in the third quarter 2025 rankings highlights the categories that Kraken continues to lead.

safety

Kraken won 100. This is a 6 points higher than any other exchange with the highest possible security score. This reflects an uncompromising approach to asset protection, robust custody regimes and industry-leading safeguards. Our clients trust us with their financial freedom and we take that responsibility seriously.

Data Quality

Accuracy, timeliness and transparency are essential to a client’s confidence. We regularly publish proofs of bookings, and real-time data feeds give traders and institutions unparalleled clarity.

Fluidity

Deep purchase orders and tough spreads will make your execution smoother at the price you want. Our liquidity ensures that clients, from everyday traders to global institutions, can trade with efficiency and confidence.

The strength of business

From product range to executive leadership, our business fundamentals continue to be strong. This reflects both our innovative spirit and our strong foundation, allowing us to continue offering for our clients.

Together, these pillars strengthen what is most important. Build a major platform that clients can rely on every day.

Based on all client-first philosophy

That’s because all high marks lead to simple truth: client Deserves A platform they can rely on.

• Security means peace of mind
• Data quality means trust in every transaction
• Liquidity means fairness and efficiency
• Business strengths mean innovation in the long term

These are not abstract metrics. They are the living experiences of Kraken clients.

“Reaching #1 is a powerful milestone, but that’s just the beginning. A score of 100 in security shows that client protection is always our top non-negotiable priority.”

“When you combine it with deep fluidity, transparent data and relentless innovation, it builds more than exchange. It builds trust. That’s what Kraken represents, and that’s how it continues to accelerate the global adoption of crypto.”

#1 better build from spot

Our rapid rise from Kaiko’s rankings is evidence that prioritizing our clients will drive sustainable growth. It validates the vision of a transparent, resilient, and accessible cryptographic ecosystem.

We are proud to be leading the industry in 2025. But even more importantly, I’m excited about what’s coming next. It’s about raising the bar for the client experience, building new products and expanding global access to crypto.

In Kraken, #1 is not the finish line. It is the foundation of the future.

Solana dominated major cryptocurrencies in real economic value (REV) and DEX volumes during the first half of 2025, according to Helius’ “Solana Ecosystem Report H1 2025.”

The report highlighted that Solana has led all blockchains in REV since October 2024 and reached $551 million in January 2025. 

REV is a metric that measures the monetary demand for using a blockchain’s network for transactions, including base transaction fees and out-of-protocol tips. 

Daily REV hit $56.8 million on January 19, surpassing the combined value of Ethereum and Bitcoin. 

Notably, Jito tips contributed between 42% and 66% of monthly REV, showing that users pay sizable premiums for priority execution and confirming a mature market for maximum extractable value (MEV) that channels revenue to validators without increasing median fees.

Daily transactions top 160M

The report noted that the fee structure allowed Solana to absorb traffic spikes, such as January’s TRUMP memecoin frenzy, while maintaining a median fee of nearly $0.003. 

The network processed approximately 162 million transactions daily, with an average slot time of around 390 milliseconds (ms), and has not halted since February 2024. 

According to the report, the upcoming Alpenglow consensus code, currently in the testing phase, aims for a finality of 100 to 150 ms and reduces validator breakeven capital to approximately $75,000.

The total value locked averaged between $8 billion and $9 billion during the first half of 2025, with an 18% quarter-on-quarter increase, placing Solana second only to Ethereum. 

Jupiter’s platform for perpetual swaps handled approximately $1 billion in daily volume and accounted for 79% of the on-chain perps market, while trading bots executed roughly half of all swaps.

Liquid staking token JitoSOL kept about 39% of the staking share. The network settled 81% of all DEX trades in 2024 and cleared $890 billion in DEX trading volume during the first five months of 2025.

Real-world traction expands off-chain reach

The stablecoin float on Solana increased from $1.5 billion to $11.7 billion in 18 months, with Circle minting $1.75 billion in USDC in May alone.

Telecom app Helium Mobile added approximately 300,000 subscribers in the first quarter.

The report added that crowdsourced-mapping project Hivemapper covered 30% of the global roads, and the tokenized-asset marketplace Baxus logged an 11,500% increase in crypto payments, alongside a 50-fold rise in overseas buyers.

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