THENA V3 exchange overview
Decentralized (DEX). Country Cyprus. Established 2023. Trust rank 168. Reported 24h volume 29.55 BTC.
Coverage: 39 active pairs across 31 tradable assets. Liquidity profile: Moderate. Concentration: Concentrated. Execution quality: Competitive. Top ten pairs share 96.5%. Key pairs include BSC-USD/USDC, WETH/BSC-USD, BTCB/WBNB, BSC-USD/WBNB. Leading pair BSC-USD/USDC. Median spread on leading markets 0.61%.
Understanding activity and pricing
Volume mix: WBNB is the largest tracked quote currency at about 39.0% of measured flow. Data scope: 42 tickers observed, with spread readings on 42 markets. Trust rank summarizes relative standing among peers, and 24h BTC volume adds context on how active the venue is right now. Coverage describes how many active pairs and tradable assets are available, which influences routing options and price discovery. Concentration shows whether turnover is clustered in a small set of pairs or spread across the book. Median spread represents the typical bid ask gap on leading markets and often aligns with day to day execution cost. Top ten share is very high here, which can make liquidity feel deep on the leaders while thinner elsewhere. A good read is to pair these metrics with the top pairs panel and the volume chart to understand both structure and recent behavior.
Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy