Last month, centralized exchanges (CEX) saw significant growth in trading activity and web traffic, according to data from Coingecko and Similarweb.
Here are the main highlights:
📈 Growth in Spot Trading
Spot market trading volumes increased by 17% in October. Key highlights:
Coinbase led the way with an impressive +61% growth.
Gate followed with +36%.
Binance has shown steady growth of +24%.
However, not all exchanges followed suit: Bitfinex fell -19%, while HTX and Bitget showed minimal changes.
📈 Growth Also in the Derivatives Market
Derivatives trading volumes grew 25% compared to the previous month. Leaders in this category:
Bybit stood out with a +61% increase, outperforming its competitors.
Bitget added +30%.
MEXC recorded a growth of +25%.
Meanwhile, HTX fell -4%, and Crypto.com and KuCoin showed only marginal growth.
📈 Traffic Trends: Who Won and Where It Came From
Overall, traffic to exchange websites increased by 2%. Top gainers include:
HTX soared with a +105% increase, driven by its popularity in Pakistan (52%).
OKX and Upbit also showed solid growth of +33% and +21% respectively.
On the other hand, traffic on KuCoin, Gate, and Bitfinex dropped, with KuCoin recording a -29% drop.
📈 Top Countries That Boosted Traffic
Each exchange has its own core target audience. Here are the top regions that drove traffic growth in October:
Binance: Dominates in India (9%), Türkiye (7%) and Ukraine (6%).
Coinbase: Largest audience in the US (63%), followed by the UK (5%) and India (3%).
Bybit: Strong presence in Russia (27%), Ukraine (7%) and South Korea (6%).
OKX: Significant traffic from India (10%), USA (6%) and Russia (5%).
📈 Conclusions
Post-election market dynamics and macroeconomic shifts continue to shape the digital trading landscape.
The increase in trading volumes and user base indicates that competition among exchanges remains fierce.
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