FTX, ByBit rise in web traffic despite overall traffic drop on CEXs
The ongoing cryptocurrency winter has triggered an overall decline in interest in centralized crypto exchanges (CEX), but some crypto trading platforms have seen a rise in website traffic.
A few major global crypto exchanges, including Sam Bankman-Fried’s FTX, have experienced a significant increase in web traffic despite the bear market of 2022, according to the website analytics platform SimilarWeb.
According to data shared with Cointelegraph, web traffic on the FTX crypto exchange has surged as much as 123% year-over-year (YoY) by June 2022.
Trading platforms like WhiteBIT and ByBit have seen even bigger growth in interest, with traffic surging 244% and 160% over the past year, respectively. KuCoin crypto exchange has also seen an increase in interest over the past year, with its website’s traffic edging up 50% YoY.
The traffic growth of FTX and ByBit came against the backdrop of the majority of CEXs experiencing a massive drop in interest in their websites.
The major United States-based crypto exchange Coinbase saw its web traffic plummet 46% YoY, experiencing one of the biggest losses among U.S. crypto exchanges. Rival exchanges like Kraken and Bittrex have also posted traffic losses, with visits dropping 38% and 54%, respectively.
The traffic on the global Binance exchange tumbled about 40%, according to data from SimilarWeb. The major blockchain browser and crypto wallet Blockchain.com also saw its traffic dropping 30%.
Crypto-friendly stock trading app Robinhood has also plummeted traffic-wise, with website visits dipping 65% YoY.
Despite a significant drop in website visits on many CEXs, the traffic on most crypto exchanges has still been up over the past three years. As such, web traffic on Coinbase, Kraken and Binance
Read more on cointelegraph.com
