Bear Market Has Little Effect on Crypto Exchange Web Traffic

The effect of the current market on leading crypto exchanges has been a source of worry in various quarters. In an attempt to gain more knowledge on current happenings, information obtained from both fiat and non-fiat crypto exchanges were sourced from SimilarWeb and examined. The Data obtained are from the monthly traffic recorded from October to December in 2018.

Coinbase Stands Unbeaten

Fiat cryptocurrency exchanges provide customers with easy access to digital assets through the use of fiat currency like euro and dollar. The following websites were examined in the fiat crypto category: Cryptonex, Simex, Bitfinex, Bitstamp, Coinbase, Kraken, itBit, P2PB2B, Gemini and Bitlish.
According to SimilarWeb, Coinbase had the most traffic between October and December in 2018. had more than 74.33 million visits within this period. In October it had 23.86 million visits, in November it had 25.04 million visits, and in December it had 25.42 million visits.
From the data obtained from the fiat exchanges, had the most impressive record in terms of web traffic. Bitfinex, on the other hand, was behind Coinbase but with lesser web traffic. Between October and December, it had a total of 17.78 million visits, with each month having around 6 million visitors.
By percentage calculation, was the fiat exchange with the most decline in monthly visitors. In October its monthly visits were 173,935, and in December it fell to 70,648, which is a decline of more than 59%.
In comparison, was the most improved fiat exchange in terms of the rise in web visitors. It had the largest Web visitors from October to December which in percentage amounted to 144%.

BitMax Grew By 204% While Binance Declined By 19%

Non-fiat cryptocurrency exchanges require users to buy digital assets with the use of another. The websites belonging to these exchanges were examined: BitMax, Binance, EXX, Huobi, ZBG, CoinBene, DigiFinex, Fcoin, BitForex and Okex. excelled more than the rest regarding web traffic between October and December 2018. The total visitors the site had in the three months was more than 95.4 million yet Binance suffered its largest decline. It had traffic of 35 million in October, but in December its monthly visitors reduced to 28.33 million (-19%).
Among all the websites that were examined, BitMax had the most impressive traffic increase of 204%. Data from SimilarWeb showed that in October it had a total of 83,696 visits and in December its traffic grew to 255,057.
In the end, the popularity of an exchange is not completely based on web traffic. Also, the above statistics may not include the total number of users making use of these platforms. Yet, web traffic is important because it provides information that may be missing in common metrics like exchange volume about leading exchanges.

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