The estimated time with which Kraken would confirm a deposit of certain cryptocurrencies varied from between near-instantaneous to up to several hours. Bitcoin, for instance, could take around 40 minutes - depending on the fees involved - whereas tokens like Cardano or Solana could be handled almost immediately. The transaction speed matters as it indicates which cryptocurrency is more efficient. A higher efficiency means that the blockchain underneath the coin is more capable of transferring data from one party to the other and confirm transactions. Transaction speed can be influenced by several factors, including block time, block size, transaction fees, and network traffic.
Average transaction speed of 45 cryptocurrencies with the highest market cap as of February 2025
(in minutes)
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Average transaction speed of 45 cryptocurrencies with the highest market cap as of February 2025
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The coins listed here have been ranked based off their market cap. Bitcoin (BTC), for example, ranks top not for its transaction speed, but because it had the highest market cap of all cryptocurrencies.
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Raynor de Best
Content expert covering payments and (crypto)currencies
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Statista. (February 5, 2025). Average transaction speed of 45 cryptocurrencies with the highest market cap as of February 2025 (in minutes) [Graph]. In Statista. Retrieved April 29, 2025, from https://www.statista.com/statistics/944355/cryptocurrency-transaction-speed/
Statista. "Average transaction speed of 45 cryptocurrencies with the highest market cap as of February 2025 (in minutes)." Chart. February 5, 2025. Statista. Accessed April 29, 2025. https://www.statista.com/statistics/944355/cryptocurrency-transaction-speed/
Statista. (2025). Average transaction speed of 45 cryptocurrencies with the highest market cap as of February 2025 (in minutes). Statista. Statista Inc.. Accessed: April 29, 2025. https://www.statista.com/statistics/944355/cryptocurrency-transaction-speed/
Statista. "Average Transaction Speed of 45 Cryptocurrencies with The Highest Market Cap as of February 2025 (in Minutes)." Statista, Statista Inc., 5 Feb 2025, https://www.statista.com/statistics/944355/cryptocurrency-transaction-speed/
Statista, Average transaction speed of 45 cryptocurrencies with the highest market cap as of February 2025 (in minutes) Statista, https://www.statista.com/statistics/944355/cryptocurrency-transaction-speed/ (last visited April 29, 2025)
Average transaction speed of 45 cryptocurrencies with the highest market cap as of February 2025 (in minutes) [Graph], Statista, February 5, 2025. [Online]. Available: https://www.statista.com/statistics/944355/cryptocurrency-transaction-speed/
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