July Sees 13% Surge On Global Crypto Exchanges’ Web Traffic

It’s being reported that global-class crypto exchanges have seen a significant influx of web traffic in July, just as cryptocurrencies as a whole start to gain momentum in price.

Centralized Crypto Industry Sees 13% Rise

ICO Analytics is a crypto analytics startup, and has provided data about the matter at large. According to the analytics firm,  global crypto exchanges saw an average increase of 13% regarding web traffic within July of 2020.

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 #StandWithUkraine 🇺🇦 (@ICO_Analytics) August 9, 2020

Illia Kmez stands as ICO Analytics’ Head of Content, and explained to the press that centralized crypto exchanges saw an increase of 26% in web traffic since December of 2019. The startup leveraged web traffic analysis of about 100 exchanges, including that of the international trading platforms, to provide the calculations. Of these 100 exchanges, some only operated within a single country, according to Kmez.

Crunching The Numbers

It should be noted, however, that some crypto exchanges have recorded dramatic increases in web traffic. While the average increase stands at 13%, some exchanges, such as KuCoin and YoBit.net, have managed to see increases of 60%.

One of the largest crypto exchanges out there, Binance, managed to record a traffic surge of 10%, representing a total of 24.9 million visits in July alone. One of its contenders in the US, Coinbase, saw an incredible 22.5 million visits that month, which represented an increase of 18% in internet traffic.

However, not everyone managed to gain from July. OKEx and BitMEX managed to record a drop in traffic, with the data showing OKEx seeing a 6% drop, while BitMEX saw a decline of just 1.6%.

Decentralized Platforms Growing, But Not There Yet

It was on the 9th of August, 2020, when ICO Analytics tweeted about the web traffic statistics for decentralized finance, or DeFi.

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 #StandWithUkraine 🇺🇦 (@ICO_Analytics) August 9, 2020

According to the given data, Uniswap saw the most significant amount of web traffic regarding DeFi platforms, seeing over 1.4 million in visits. As it stands now, Uniswap is viewed as the ninth-largest DeFi environment, when looking at the total value locked within the protocol itself. This comes thanks to the data provided by DefiPulse.com.

ICO Analytics gives the title of the largest increase in web traffic, regarding DeFi, to Balancer Pool. Balancer Pool managed to see an increase of 193% regarding web traffic.

ICO Analytics did make a note, however, that none of the DeFi projects managed to reach the level of the top 20 centralized exchanges, even though they did significantly increase. The market is still growing, however, and time will tell if this will remain the case for long.