Bitcoin exchanges (BTC) in the US are enjoying unprecedented popularity as their wave of adoption sweeps the market.
Data from statistics sources Alexa and Similarweb show that the major exchange site Coinbase is now among the top 1000 most popular sites worldwide.
Coinbase is one of the top 400 websites in the US.
As BTC / USD soars, it seems that the $ 42,000 drop in January has sparked a new tsunami of user interactions with some of the most popular cryptocurrency trading platforms.
The Gemini, Kraken, and Binance platforms in the United States, which have been the hub of institutional inflow to Bitcoin in recent months, rank among the world’s top 10,000 websites.
While Binance has just surpassed Coinbase in terms of global traffic, the latter is ranked first among the domestic market, ranking 386 among Internet users in the United States. The data is for December 2020, as the cryptocurrency earlier this year is likely to make the exchange even more popular.
Despite widespread systemic irregularities and other technical problems – a phenomenon that has plagued Coinbase over the years – its popularity has clearly not changed.
Anthony Pompigliano, co-founder of Morgan Creek Digital, remarked on Tuesday: “In January, the Coinbase app had 1.3 million downloads. This is more than E-commerce, TD Ameritrade, Charles Schwab, Fidelity, Sofi … put together. ”
Coinbase is currently ranked as the best crypto finance app on the Apple App Store, with Binance and Binance US also in the top 10.
Another hint that bad advertising isn’t as bad as it sounds, retail app Robinhood also saw a big jump in app downloads last week, with users and commentators complaining about what they perceived to be arbitrary restrictions on their actions.
Withdrawals Indicate Bitcoin Is Returning To Growth
Meanwhile, Coinbase has become a useful starting point for assessing market willingness to buy or sell as a big shopping destination, Cointelegraph reports.
This week there was a significant outflow of private portfolios from the stock market, which, according to the analyst, will indicate the continuation of institutional buying in the long term.
Ki Yong Joo, CEO of analytics network CryptoQuant, continued “working on the strongest bullish signal” in new comments on Wednesday.
“32.4k was bottom and the bitcoin dollar was up 13%. But as I said, institutional buying is the strongest bullish signal that overcomes all other bearish signals. I expect it to grow further. ”
At the time of writing, BTC / USD is trading at around $ 36,000, up 4.8% the day after hitting a high of $ 36,820.