A few major global crypto exchanges, including Sam Bankman-Fried’s FTX, have experienced a significant increase in web traffic despite the bear market of 2022, according to the website analytics platform SimilarWeb.
According to data shared, web traffic on the FTX crypto exchange has surged as much as 123% year-over-year by June 2022. Trading platforms like WhiteBIT and ByBit have seen even bigger growth in interest, with traffic surging 244% and 160% over the past year, respectively. KuCoin crypto exchange has also seen an increase in interest over the past year, with its website’s traffic edging up 50% YoY.
The traffic growth of FTX and ByBit came against the backdrop of the majority of CEXs experiencing a massive drop in interest in their websites. The major United States-based crypto exchange Coinbase saw its web traffic plummet 46% YoY, experiencing one of the biggest losses among U.S. crypto exchanges. Rival exchanges like Kraken and Bittrex have also posted traffic losses, with visits dropping 38% and 54%, respectively.