CryptocurrencyExchanges

ICO Analytics: traffic of centralized cryptocurrency exchanges has increased significantly

According to ICO Analytics, traffic from centralized cryptocurrency exchanges and decentralized finance (DeFi) services increased significantly in July 2020.

Illia Kmez, Content Director of the ICO Analytics analytical service, said that the researchers analyzed the Internet traffic of about one hundred trading platforms operating both in one state and in several countries. 

Binance ranked first among the TOP 20 exchanges in terms of traffic volume in July. More than 24.9 million visits were recorded on the exchange, and the volume of its traffic increased by 10%. The number of visits to the Coinbase exchange last month was less – 22.5 million, but its traffic grew by 18%. In July, YoBit and KuCoin have this figure exceeded 60%. However, not all cryptocurrency exchanges can boast such high numbers. For example, BitMEX and OKEx’s traffic decreased by 1.6% and 6%, respectively. According to Kmez, the flow of information data from centralized cryptocurrency exchanges has increased by an average of 26% since December, and by 13% last month.

In addition, ICO Analytics specialists presented similar statistics on trading platforms in the field of decentralized finance (DeFi). In terms of traffic volume, the first place was taken by the decentralized platform Uniswap. Last month, the number of visits exceeded 1.4 million. The leading positions in terms of traffic growth were taken by the Balancer pool and the Curve platform, their indicators increased by 193% and 152%.

According to The Block, in July trading volumes on decentralized platforms amounted to more than $ 4.3 billion. The volume of transactions on Uniswap amounted to 41% of the total, and on Curve – 24%. However, ICO Analytics noted that despite the rapid development of the decentralized finance industry, none of the DeFi platforms reached the traffic volume that the above-mentioned centralized exchanges have.

According to DeFiMarketCap, in June the total value of tokens participating in the operation of DeFi protocols exceeded $ 2 billion. In addition, analysts at Dapp.com reported that in the second quarter of this year the number of active users of decentralized applications based on Ethereum doubled compared to the first quarter, which is largely driven by the growth of the DeFi industry.

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