It has been reported that the global cryptoexchanges recorded a significant increase in web traffic in July, as crypto prices have gained momentum.
According to data from the cryptanalysis startup ICO Analytics, web traffic on the global cryptoexchanges increased by 13% on average in July 2020.
Illia Kmez, head of content at ICO Analytics, told Cointelegraph that centralized cryptoexchanges added 26% to web traffic from December 2020. In order to provide estimates, the startup analyzed web traffic from about 100 exchanges, including international trading platforms and those operating in only one country, Kmez said.
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While the average is 13%, some cryptoexchanges have registered a more remarkable monthly increase, with an increase in traffic of more than 60%, as was the case of YoBit.net and KuCoin.
Binance, the world’s largest cryptoexchange, reportedly had 24.9 million visits in July, with a traffic increase of almost 10%. Coinbase, the largest cryptoexchange and wallet service in the United States, registered 22.5 million visits during that month, with an increase in traffic of 18%.
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Other popular exchanges such as BitMEX and OKEx saw their traffic drop in July. According to the data, BitMEX traffic fell 1.6%, while OKEx saw a 6% drop.
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Web traffic dynamics of crypto exchanges in July 2020
The dynamics of cryptoexchange web traffic in July 2020. Source: ICO Analytics Twitter
Uniswap is the largest DeFi protocol for web traffic
In another tweet on 9 August, ICO Analytics provided similar statistics on decentralised funding, or DeFi. According to the data, the Uniswap decentralized exchange is the largest in terms of web traffic: it had more than 1.4 million visits in July. Uniswap is ranked the ninth largest DeFi environment in terms of total value stored in the protocol, according to data from industry leading website DefiPulse.com.
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According to ICO Analytics, DeFi Balancer Pool’s Etoro liquidity provider saw the biggest increase in web traffic, with a 193% increase in July.
ICO Analytics also noted that, despite significant growth in traffic related to the DeFi markets, none of DeFi’s platforms have reached the level of the top 20 centralized exchanges.
In early July, cryptomarket analysis firm Messari said DeFi represents only 1.5% of the entire cryptomarket. As of this writing, the total value stored in DeFi markets represents $4.7 billion, according to DefiPulse.com.