Do cryptocurrency exchanges go through crisis?

2018-08-25 21:09

Image Blog 6

The last months have not been very successful for the cryptocurrency market. With noticeable lower volatility in prices of major digital currencies, their rates have been gradually declining since at least January 2018. The lack of major buyers is noticeable. Reduced interest can also be observed among mass users of major stock exchanges.

The company Magnanse Magnates conducted a short survey on the popularity of the largest cryptocurrency platforms. According to the data provided by SimilarWeb, the analysis of the first five exchanges shows a sharp drop in the number of visits.

Binance remains by far the most-visited stock exchange, but the drop in the number of visits even on it is striking. In February 2018, the company registered 79.3 million visits per month, but in July 2018 this number dropped to 39.2 million. In the case of other platforms, a similar scheme can be seen. From among the top 10 cryptocurrencies exchanges, ZB.COM recorded the largest decline. From February to July, the exchange lost 70 percent of traffic on the site. The second biggest loser was Upbit, who lost 61.8 percent. visits. The next place is Bithumb with a decrease of 58.4 percent of traffic.

However, there are exceptions. Lbank from China recorded an increase in visits by over 355 percent in the same period. Registered in Hong Kong Coinsuper enjoyed an increase of 700 percent. Coinsuper is however a relatively new platform that was launched in 2017. Recently, some industry companies have fears about the real nature of the volume increase reported by this stock exchange. It offers digging transactions, which is a form of the rewards system.