What’s Causing The Decline In Web Traffic Of Most CEX Exchanges?
What’s Causing The Decline In Web Traffic Of Most CEX Exchanges?
Hey guys, I am pretty sure most people here trade BTC/ETH in CEX.. Many CEXs assure users about their funds by emphasizing strong security measures, a clean Proof of Reserves (PoR) record, and well-funded user protection programs.
Now I’m not completely saying that CEX is dead or something but a recent report from SimilarWeb shows that in April, some of the exchanges like Binance, coinbase, bybit and more, all seeing double-digit percentage decreases. But interestingly, Bitget and Gateio seem to be bucking the trend with increased traffic, particularly the former with an 11% surge.
It would be interesting to hear your thoughts on this. Are you seeing a similar trend in your use of exchanges? Do you believe CEXs can reverse this decline in web traffic?
I don’t buy any kind of funds assurance from these exchanges lol. At the end of the day, it’s a custodial wallet and not your keys, not your bitcoins.
But this most likely has to do with the BTC price decline however, it’s nothing new during a downtrend. We should see a traffic surge once again when the market has become extremely bullish just like what happened in previous bull runs.
Perhaps people whose place were restricted from binance took a refuge on those few exchanges that had an increased traffic — just a guess.