SimilarWeb traffic data says Binance is the undisputed king of crypto
Crypto exchanges have been in contention ever since the market started to see more interest. The battle for supremacy among all these exchanges had grown even more in 2022, sparking rumors of crypto exchanges trying to sabotage each other. As always, the number of visitors to each website always shows which crypto exchange is used the most by investors, and data from SimilarWeb has crowned the undisputed winner.
Binance continues to dominate
Binance is arguably the largest crypto exchange in the world. The popularity of the platform alone is enough for anyone to rightly conclude that it is the most used crypto exchange in the world, and the traffic data has been able to confirm this.
According to SimilarWeb, the number of visitors to the website in the last 90 days was 300 million. The crypto exchange registered almost twice as much as the second highest ranked exchange in terms of traffic figures. Interestingly, most of Binance’s numbers were not from the West as one might expect. Rather, Turkish users were the most active on the crypto exchange. It also saw strong interest from the Philippines, Russia, Argentina and Brazil. This shows that non-English speaking nations tend to favor the crypto exchange.
Binance remains largest exchange in the world | Source: Arcane Research
Coinbase was the second most visited exchange, with 121 million website visits in the last 90 days. However, unlike what was seen for Binance, the crypto exchange saw more interest from Western countries, with the majority from the United States.
ByBit, FT US and Kucoin were all in the top 5. One thing that stood out, however, was that exchanges such as Bitstamp, BitMEX and Gemini were not in the top 20 crypto exchanges list. Rather, national exchanges such as Indodax, an Indonesian stock exchange, made the list. Uniswap was also in the top 20 list with 13 million visits in the last 90 days.
OpenSea over crypto exchanges
The crypto exchanges did it when it came to trading coins and tokens. But when it came to checking the value of NFTs, investors continued to visit the dedicated marketplace OpenSea for this. SimilarWeb’s data shows that visits to the OpenSea website for the past 90 days were 158 million, more than 30 million higher than Coinbase.
Total market cap above $1 trillion | Source: Crypto Total Market Cap on TradingView.com
Basically, users still visit the platform to keep track of their NFTs instead of using NFT marketplaces from crypto exchanges like Binance and Coinbase. It also speaks volumes for the interest that remains in the NFT space despite the decline in trading volume in recent months.
Another exchange that has been high is MEXC, with 28 million visits. It is pretty safe to conclude that the platform has benefited from its lax attitude towards KYC, which allows up to 20 BTC withdrawals without identification on the platform.
Featured image from Watcher Guru, charts from Arcane Research and TradingView.com
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