{"id":13736,"date":"2023-09-19T15:05:09","date_gmt":"2023-09-19T15:05:09","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/these-crypto-websites-are-defying-the-bear-market-whats-going-on\/"},"modified":"2023-09-19T15:05:10","modified_gmt":"2023-09-19T15:05:10","slug":"these-crypto-websites-are-defying-the-bear-market-whats-going-on","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=13736","title":{"rendered":"These Crypto Websites are Defying the Bear Market \u2013 What’s Going On?"},"content":{"rendered":"
\n

Is 2023 really worth calling a \u2018bear market\u2019 year for crypto? A look at website traffic data for major industry domains suggests the answer may be a bit complicated.<\/p>\n

On one hand, data from Similarweb \u2013 a web analytics platform \u2013 reveals a decline in monthly website visits for both Binance and Coinbase \u2013 two of the world\u2019s largest crypto exchanges. \u00a0<\/p>\n

Binance experienced a significant drop of 22%, falling from 69 million visits in January to 54 million in August. Coinbase followed with a 15% decrease, with its monthly visits decreasing from 33.5 million to 28.4 million during the same period.<\/p>\n

In contrast, data obtained by Cointelegraph from Similarweb indicates that OKX, HTX (formerly Huobi), Gate.io, CoinW, XT.com, and Bitmart have all experienced substantial growth in their website traffic year-to-date (YTD).<\/p>\n

HTX’s website witnessed an astounding YTD surge of over 200%, escalating from 7.3 million monthly visits in January to 22 million in August. OKX followed suit, registering an impressive 185% rise in total monthly visits, climbing from 8 million in early 2023 to 22.8 million in August.<\/p>\n

Gate.io and Coinw exchanges have recorded YTD traffic surges of 143% and 66%, respectively. XT.com and Bitmart, two crypto trading platforms, have both seen their website traffic surge by approximately 40% this year, surpassing 9.5 million monthly visits.<\/p>\n

Kraken, a prominent U.S.-based crypto exchange, has also experienced an 11% YTD increase in website traffic, going from 5 million to 5.6 million monthly visits.<\/p>\n

Not Just Exchanges<\/h2>\n

The trend of rising traffic is not limited to centralized exchanges (CEX): software wallets and decentralized exchanges (DEX) have also been gaining traction.<\/p>\n

MetaMask, a major self-custodial Ethereum wallet, reported a 31% increase in traffic, with monthly visits rising from 4.5 million in January 2023 to 5.9 million in August. Binance’s self-custody wallet, Trust Wallet, has seen a 7% growth in traffic, increasing from 2.9 million to 3.1 million monthly visits this year.<\/p>\n

Prominent DEX Uniswap has witnessed a 28% increase in website traffic year-to-date, surging from 3.9 million visits in January to 5 million in August.<\/p>\n

Bitrefill, a cryptocurrency gift card company, saw its website reach 1 million monthly visitors by August, marking a 12% increase from around 900,000 monthly visits in January 2023.<\/p>\n

Going by price, Bitcoin (BTC) is still up 62% year to date, bolstered by failures in the U.S. banking system and optimism of a likely Bitcoin spot ETF approval in the United States this year.<\/p>\n

Many analysts expect Bitcoin to surge next year following such an approval, alongside Bitcoin\u2019s \u201chalving\u201d in April \u2013 which will cut the asset\u2019s supply issuance rate by 50%. In July, British multinational bank Standard Chartered predicted the asset could tap $120,000 by 2025.\u00a0
\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Is 2023 really worth calling a \u2018bear market\u2019 year for crypto? A look at website traffic data for major industry domains suggests the answer may be a bit complicated. On one hand, data from Similarweb \u2013 a web analytics platform \u2013 reveals a decline in monthly website visits for both Binance and Coinbase \u2013 two […]<\/p>\n","protected":false},"author":1,"featured_media":13737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-13736","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"\nThese Crypto Websites are Defying the Bear Market \u2013 What's Going On? | Prosfunds<\/title>\n<meta name=\"description\" content=\"Is 2023 really worth calling a \u2018bear market\u2019 year for crypto? 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