Is the crypto exchange landscape shifting? Insights from Coincub’s 2023 Exchange Traffic Report unveil new trends

Crypto exchange - Traffic share per country 2023


Contact: Jon Lea, Chief Editor Coincub

Dublin, Ireland – [29.01.2024] – Coincub, a renowned crypto analysis platform, announced the publication of its highly anticipated 2023 Crypto Exchange Traffic Report today. The report analyzes the trends, patterns, and shifts in the global cryptocurrency exchange visitors over the past year.

Key Findings:

  • Dominant Players: Binance and Coinbase emerged as the leading exchanges. Binance recorded over 1 billion visits, while Coinbase garnered 549 million, capturing over 50% of US traffic share.

  • Global Traffic Insights: The United States led cryptocurrency exchange traffic, closely followed by India, Indonesia, and Turkey. North America and Europe showed high per capita visits, while Asia & Pacific dominated overall traffic.

  • Exchange Traffic Battle: Binance’s decline and emerging exchanges like Bybit and Bitget fragment further the market.

  • Regional Specifics: Binance holds significant market share in Nigeria, Argentina, the UAE, and China. Bitvavo leads in the Netherlands with a 45% traffic share.

  • Evolving Crypto Hubs: Turkey has become an increasingly popular hub for cryptocurrency, driven by its economic conditions and aggressive marketing by crypto exchanges.

Methodology: The report was compiled by analyzing data from top exchanges listed on CoinMarketCap and CoinGecko, focusing on those with the highest trading volumes. The primary metric was ‘Visits’ and ‘Unique Visitors’ with data sourced from Semrush and validated using SimilarWeb, supplemented by expert insights and industry reports.

Conclusions: The 2023 report highlights a rapidly evolving crypto exchange landscape, marked by increased regulatory scrutiny, particularly from the SEC, and the rise of new market players. The industry is expected to face significant changes in 2024, influenced by regulatory challenges, market fragmentation, and shifting consumer behaviors.

About Coincub Limited: Coincub Limited, headquartered in Dublin, Ireland, is an independent publisher and leading analysis platform in the cryptocurrency market. Recognized as the Best Bespoke Crypto Analysis Platform for 2023 & 2024, Coincub is committed to providing accurate and up-to-date insights in the rapidly evolving crypto space.

Disclaimer: The information in the report is for informational purposes only and is not intended as financial advice. Readers are encouraged to conduct their research and consult professionals before making investment decisions.

For further information, you can access the free report.

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