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.