The number of visits to the sites of centralized cryptocurrency exchanges has been declining for the third month in a row. In January, the traffic of popular trading platforms decreased by 8%.
According to analysts from The Block Research, in January, the sites of centralized cryptocurrency exchanges were visited 427.6 million times, which is 8.3% lower than in December. In December, 466 million visits were recorded, and in November – 546.6 million. May 2021 remains a record – then users visited the sites of cryptocurrency exchanges 638.2 million times.
The Binance exchange remains the most popular – the share of the total traffic in January for this site was 33.2%. At the same time, in July last year, the Binance website attracted 42% of the total number of visits. In second place is the American exchange Coinbase with a share of 18.1%, and in third place is Bybit with a result of 6.6% of total traffic.
The reason for the decrease in the number of visits, obviously, was the fall of the cryptocurrency market. In January, the bitcoin exchange rate decreased from $48,000 to $33,000, and by the end of the month it was $37,500. At the moment, the market has recovered somewhat and BTC is trading at $43,500.
Earlier it was reported that in January trading volumes on the derivatives market decreased, and this allowed derivative products to take a record share of 61.2%. The volume of trading on the futures market amounted to $1.81 trillion, and transactions with derivatives were made for $2.86 trillion.
Source: Bits
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
