October 22, 2020

In August and September, new maximum of cryptocurrency exchanges visitors were recorded

In August of this year, a 14-month maximum for cryptocurrency exchanges was set. September lost to it, but it is still the second in the overall ranking of 2020. Experts believe that the main reason is the bitcoin rate: it changed dramatically during these months.

August: new record in bitcoin history

The Blocks named August 2020 as a “record-breaking month” in their reports because of statistics collected by the service. In the last month of the summer, total adjusted on-chain volume grew by almost 40% (The Blocks said the number 38.3%) and reached $125 billion.

The Impressive growth was noted in terms of cryptocurrency trading volumes: 75%. This is the absolute maximum in 31 months.

But the most significant growth was in web traffic of cryptocurrency exchanges: by 30.5%. Using the Similar Web service, The Block analysts determined the number of visits to exchangers per month, and in August it reached 144.3 million. This is the absolute maximum in the last 14 months, since the Bitcoin rally in May and June 2019. Last year it was nearly 150 million. Then came a long period of decline.

August of this year was also marked by an increase in prices, bitcoin for the first time in a long time rose more than $11,000 and tested the $12,000 mark.

Binance, Coinbase, and Bitmex became the record holders for traffic.

September: weaker, but still at the top

After rising in August, bitcoin dropped in value again, and interest in cryptocurrency exchanges also dropped. The decrease was over 14%; a total of 123.2 million user visits to exchanges were recorded in September. Binance and Coinbase remained in the first places, but OKEx took third place. Bitmex left the top because in September it experienced problems with regulators.

Despite the fact that September did not set new records for the attendance of crypto exchanges, it became the second month in terms of their volume in the general statistics of 2020.

Probably, the last three months of 2020 will also be included in the annual statistics: in October, the price of the first cryptocurrency reached $12,000 again, and most experts agree that it will continue to grow till the end of the year. This is evidenced by the interest of private and institutional investors, which is growing as securities fluctuate and traditional currencies are at risk of inflation.

The Equite.io service helps investors find reliable traders in order to successfully invest in cryptocurrencies and capitalize on rate fluctuations.

Earlier, we talked about the reasons for the growth of cryptocurrencies during the crisis.