Cryptocurrencies like Bitcoin (BTC) have been widely described as going through a bear market in 2023, but this may not exactly be the case, according to indicators such as the website traffic of certain crypto platforms.
Some major cryptocurrency websites, such as Binance and Coinbase, have seen a significant traffic drop in 2023, but there are many crypto sites that have experienced the opposite.
According to data from the web analytics platform Similarweb, the number of total monthly visits on the Binance website tumbled by 22% from 69 million in January 2023 to 54 million in August. Coinbase’s website has experienced a 15% traffic decline over the period, with the number of visits dropping from 33.5 million to 28.4 million.
A number of cryptocurrency exchange websites have had more success in terms of traffic, though. According to Similarweb data accessed by Cointelegraph, the websites of crypto exchanges OKX, HTX (formerly Huobi), Gate.io, CoinW, XT.com and Bitmart have seen a notable increase in traffic year-to-date (YTD).
According to the data, monthly visits to the HTX website surged more than 200% YTD, rising from 7.3 million in January to 22 million in August. The website of OKX saw a similar traffic increase, with total monthly visits jumping 185% from 8 million in early 2023 to 22.8 million in August.
The Gate.io and Coinw exchanges saw their website traffic surge by 143% and 66% YTD, respectively. The website traffic of crypto trading platforms XT.com and Bitmart has surged about 40% this year so far, reaching more than 9.5 million monthly visits.
Kraken, a major crypto exchange in the United States, has also seen its traffic rise this year, surging about 11% from 5 million to 5.6 million YTD, according to theRead more on cointelegraph.com