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Reports show that cryptocurrency exchanges have seen a massive increase in web traffic, as cryptocurrency prices gained significant positive movements in July.
Data from ICO Analytics, a firm which analysises cryptocurrency movements, shows that web traffic on global cryptocurrency exchanges saw an average 13% uptick last month compared to the month before:
Web traffic dynamics of some of the most popular crypto exchanges in July 2020 vs June 2020. In July in average web traffic of cryptocurrency exchanges increased by 13%. pic.twitter.com/gSz3JTSj9f
— ICO Analytics (@ICO_Analytics) August 9, 2020
Major Cryptocurrency Exchanges – Increased Traffic And Web Visits
ICO Analytics’ Illia Kmez said that the web traffic for centralised exchanges gained around 26% since December. Comparing the traffic from June to July, some exchanges saw a whopping 66% increase. YoBit.net and KuCoin are examples of these, and they stand amongst several exchanges to see a huge spike in traffic. Binance, which stands as cryptocurrency industry’s leading exchange recorded 24.9 million visits in July; showing a tidy 10% increase in traffic since June. Coinbase, the United States’ largest exchange, saw 22.5 million visits, boasting an 18% increase from June to July.
Decentralised Exchanges Also Enjoy Increased Web Traffic
ICO Analytics also reported that decentralised finance (DeFi) firms and decentralised cryptocurrency exchanges are showing similar increases in web visits. As reported by the firm, Uniswap stands firm as the decentralised exchange with the highest web traffic in July, with more than 1.4 million visits. While DeFi markets don’t make up a massive portion in the cryptocurrency industry, the positive sentiment seems to be interlinked. Bitcoin Ethereum, and Ripple are all maintaining new record support values for 2020. Decentralised tokens, such as Chainlink, on the other hand, are also enjoying the increased – and maintained -value since a spike in July.
Web traffic dynamics of decentralized trading platforms in July comparing to June. Despite significant increase of the traffic none of the DeFi platforms have reached the level of top 20 centralized exchanges. pic.twitter.com/MYv4Q3u2Z5
— ICO Analytics (@ICO_Analytics) August 9, 2020