Exchange

Crypto exchange web traffic suggests retail isn’t playing large role in recent rally

Quick Take

  • Web traffic on cryptocurrency exchanges reached 174 million visits in June
  • When price grew by 78% in June, the traffic stayed nearly the same as in May, which could suggest that retail investors weren’t the catalyst to the recent price run-up
  • Binance had the largest number of estimated visitors in June with nearly 45 million; followed by Coinbase with 36.5 million while all other exchanges had less than 10 million visits

Web traffic on cryptocurrency exchanges reached 174 million visits in June, which is virtually the same as a month before. Since February, the price of bitcoin grew by more than 250% while the crypto exchange traffic grew by roughly 68%.

There have been several indications that the price rally hasn’t been driven by retail investors as much as in 2017.