SimilarWeb Reports Web Traffic Surges and Plummet on Crypto Exchanges

Despite the ongoing harsh market conditions, SimilarWeb data shows web traffic on FTX has skyrocketed to up to 123% year-over-year (YoY) as of June 2022. 

This is a significant disparity from other crypto firms which have experienced a downtrend in accordance with the market. Generally, the occurring crypto winter has caused a global decline in interest in centralized crypto exchanges (CEX). 

According to SimilarWeb, the crypto derivatives exchange, FTX which is founded by Sam Bankman-Fried is one of the few crypto firms that has had it differently this season. 

Bybit and WhiteBit have gotten even greater attention from users worldwide. Bybit experienced a 160% web traffic surge while WhiteBit got a huge 244% surge in traffic. The KuCoin exchange was not left out of the boost as it also got a 50% web surge YoY.

Several other crypto exchanges that experienced a downtrend include the world’s largest cryptocurrency exchange by trade volume Binance. 

Traffic on the Binance website plummeted by up to 40%. Following closely on Binance’s figure is Bitcoin (BTC) trading platform, Kraken. The United States-based cryptocurrency exchange, Kraken received fewer website visits up to 38%. For Coinbase, an American exchange, its website visits dropped to 46% YoY.

Additionally, Bittrex has posted details of its traffic losses which amounted to up to 54%. Blockchain.com was not left out of these plummeting results, its website traffic has dropped by 30%. Also on the list is Robinhood, an American financial service provider. Based on available data, its web visits declined by 65% YoY. 

Website Traffic Surge in Over Three Years

Meanwhile, computing the data from the last three years, it was agreed that a few of these exchanges which are currently experiencing a decline in their website visits have generally been up. Website traffic on crypto exchanges like Coinbase has surged up to 36% in the last three years. The likes of Kraken and Binance surged up to 105% and 263% respectively. 

Upcoming exchanges like Bybit and FTX have surged up to 1600% and 9400% in all these years. In all of this fluctuation, some of these cryptocurrency firms like FTX are still trying to rescue other drowning firms like Voyager Digital which became insolvent recently. 

Source