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More than a million Internet users visit Binance every day as the cryptocurrency exchange handles a $ 40 million hacking scandal in a context of soaring bitcoin prices.
Toronto-based Kevin Rooke, known for his insightful analysis of social media related to cryptography, revealed that Binance's average daily traffic increased by 13% in April. Since October 2018, the Maltese stock market has hosted its best website statistics, with 1,183,000 visits. This analysis is irrefutable proof of the growing interest of people in crypto-currencies, including bitcoin, whose value increased by 29.33% during the April session.
Meanwhile, other cryptocurrency trades recorded less web traffic compared to Binance. They did not even get more than 400,000 hits per day, with the exception of Coinbase, a US-based encryption center that averaged 930,000 visits every 24 hours. Coinbase provided services in 53 countries and worked under strict regional regulations. At the same time, Binance's trading platform was available worldwide, but fiat withdrawals were only supported via Binance Jersey, a service launched on February 18, 2019.
Binance and Coinbase released best incoming traffic | Image credits: Kevin Rooke
Bitcoin Boom Behind the traffic?
The latest traffic reports from Binance and Coinbase followed the rally, also known as April Fools, from Bitcoin. On April 2, the cryptocurrency rate increased significantly by 24%. It posted similar bullish movements for the rest of the month.
The feeling of buying bitcoins was reflected in the trading session in early May. On the 9th, its price broke the $ 6,000 mark, a historically important level of support when the asset down in 2018. The BTC / USD instrument has reached its most today. annual high of $ 6,989.89 on Coinbase.
The spike in bitcoin prices has generally coincided with an increase in the number of bitcoin-related keyword searches on Google – and even Chinese Baidu. The keyword "Bitcoin Price", for example, remained the most sought after query for cryptography on Google. And it's interesting to note that the search engine responded with a Coinbase URL at the top, next to some articles on NewsBTC's bitcoin price (a big heart for our readers).
Most searched keyword by Coinbase Topped Bitcoin | Image Credits: Google
The top Google has ranked at least one of the cryptocurrency exchanges at the top, which has increased its visibility before Internet users. It is difficult to predict if one of the new users is converted to sales. No official data was available to verify the number of account holders on Coinbase or Binance for the moment. At the same time, a report published in December 2018 indicated that Coinbase had 422,000 daily active users, compared with 323,000 for Binance.
Coinbase beat Binance in December 2018 on the basis of daily active users | Image Credits: Blockchain Institute of Transparency
To summarize
It was likely that Internet users would be interested in a decentralized bullish asset, which explained how people could have landed on Coinbase or Binance, either via referrals or directly. This does not remove the fact that Bitcoin's activity in the chain has increased along with its price since the December 15 background training.
At the time of writing, cumulative gains for the BTC / USD instrument were 81%.
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