More than 30% of BYBIT is in Russia

The share of Russian traffic on BYBIT crypto -story in June amounted to 31%, which makes Russia the largest source of visits to the platform website. According to Wu Blockchain, citing Similarweb service, the total traffic of sites of the crypto -rhinum fell by 6% relative to May. The total trading volumes in the spot and futures markets fell by about 28 and 13%, respectively, reports RBC Crypto.

Bybit is the second largest crypto -streak in the world after Binance, according to CoinmarketCap. The world’s largest Binance crypto -rope has ceased to serve users from Russia in the fall of 2023.

HTX had 21% of the site visitors in June, as a month earlier. Russia also entered the three leaders in the attendance of Bitfinex, Gate and South Korean UPBITs with a 7, 5 and 0.3% share, respectively.

Among the largest exchanges, the largest increase in traffic in June was shown by Kucoin (+130%), almost all large sites have fallen at the last month, for some more than 20%.

The largest share of visitors from the United States has traditionally been on Coinbase exchanges (67%) and Crypto.com (55%). A significant part of the traffic of Binance largest in trade volumes, as in the last month, was provided by South Korea (8%), India (6%), and Vietnam (7%).

In addition to the drop in attendance in June, the majority of large cryptocurrencies recorded a decrease in the volume of sport and derivative trade by about 28 and 13%, respectively. The volumes of MexC, Kucoin and Upbit were most sagged in the spot market, and in derivatives – in CryptoSom, Binance and OKX. Analysts refer to Coingecco data, but note that statistics can be distorted due to bots or artificial volumes.

Decetralized exchanges

At the same time, in June, the share of decentralized exchanges (Decentralized Excments (DEX) in the world volume of spoke trade of cryptocurrency reached a record 29.65% relative to traditional crypto -rope (CEX).

The volume of trading on DEX in June grew to a record $ 390 billion. After the local peak in January, DEX volumes decreased, but in May they began to recover, and this growth continued in June, according to Defillama.

The share of DEX in the volume of futures trading on the crypto ripe in June also updated the historical maximum, amounting to 8%. This was mainly due to one platform for the trade in cryptoderivists – Hyperlique, which is 70% of all DEX, focused on derivatives, according to Defillama on July 15.

Perhaps the fall of volumes could be associated with general seasonal activity in the summer periods. But statistically, they are not reduced in every year. So, for example, the volumes of trade in futures in the summer, according to the observation of The Block, were last reduced in 2023.

Experts noted that a possible reason for this may be the transition of traders to DEX. As the director of information technology in Kronos Research Vincent Liu noted, traders lose confidence in CEX, choosing lower commissions, as well as striving for independent storage of assets, without transferring them to third parties.

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