Home Markets These records record the biggest crypto exchange traffic since the market crash

These records record the biggest crypto exchange traffic since the market crash

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These records record the biggest crypto exchange traffic since the market crash

Crypto market activity declined after the recent crypto market crash in May-June as traders in many countries lost interest in the market. However, crypto exchange traffic data from Arcane Research reveals that participation in the crypto market still remains higher in most countries despite the crash.

Global Visitors Crypto Exchange Traffic

According to Arcane Research, the crypto exchange website visit data over the past 90 days reveals that traders from 20 countries contribute 52.4% of all crypto exchange visits. This also indicates growing interest from traders as cryptocurrency prices descend to lower levels.

The analytics company tracked the website traffic of 35 global crypto exchanges for research. Interestingly, US traders dominate crypto exchange website visits, accounting for 14.33% of all visits.

Traders from countries like the United States, South Korea, and Russia see the highest participation in the crypto market in the past 90 days. While the United States accounts for 14.33% of traffic, South Korea and Russia account for 6.51% and 4.87% respectively.

Crypto Exchange website visits in the last 90 days
Crypto Exchange website visits in the last 90 days. Source: Arcane Research

Other countries in descending order are Turkey, Japan, United Kingdom, India, Ukraine, Brazil, Vietnam, Argentina, Canada, Germany, Indonesia, Philippines, Poland, Singapore, Spain, France and Italy.

US dominance in the crypto market is supported by institutional adoption, crypto regulatory changes, stablecoins, and crypto mining. The major Wall Street banks and other financial institutions such as JP MorganMorgan Stanley and Goldman Sachs have invested in Bitcoin and other cryptocurrencies.

Both Russia and Ukraine saw an increase in crypto adoption after the Russian invasion of Ukraine, leading to sanctions against Russia. Ukraine received crypto donations from around the world to defer Russian oppression.

European countries, including France, Germany, Spain, and Italy, have seen an increase in crypto activity and the expansion of crypto exchanges. The move came in the wake of EU crypto-asset markets (MiCA) legislation.

Crypto market recovery in sight?

Bitcoin (BTC) and Ethereum (ETH) prices are trending higher after a recent drop due to a market-wide liquidation.

Bitcoin (BTC) price is slowly rising with the current price trading at $21,468. However, it is still below the 200-WMA key at $23,000.

Meanwhile, the price of Ethereum (ETH) has risen 3% in the past 24 hours, trading near $1,650. The Long-awaited merger is the main reason for the rally. Ethereum developers expect the merger to happen on September 15. However, the price will be deflationary in the middle of waiting.

Varinder is a technical writer and editor, technology enthusiast, and analytical thinker. Fascinated by disruptive technologies, he shared his knowledge on blockchain, crypto-currencies, artificial intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period of time and currently covers all the latest updates and developments in the crypto industry.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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