Data Shows Crypto Exchange Volume May Not Equate to Website Traffic

BitMEX, Bitfinex, Coinbase, Binance and Bybit have each seen their share of activity on social media, each with varying amounts of trading volume, although recent data from Amazon's analytics site Alexa shows where these five exchanges really stand in terms of traffic and engagement.

The entity ranks second among the list of mentioned exchanges in terms of overall traffic and engagement, sitting at 2,335 on Amazon's Alexa data page.

Controversial exchange Bitfinex is next on the list, ranked at 9,232 in terms of traffic and engagement against all other websites.

Still, the exchange posts notable traffic, although it sits below Coinbase in terms of reported volume posted on CoinMarketCap, ranked at 62.4.

Fourth on the mentioned list of exchanges above in terms of traffic and engagement is a newer exchange by the name of Bybit, which entered the market in 2018.

It surprisingly ranks higher than BitMEX by web traffic, an exchange so popular that it is known for its "Overload" - a condition in which the exchange freezes and locks out users during times of high traffic.

Notably, BitMEX has the most reported volume out of any trading platform, pulling in more than double the volume seen on BKEX, a second-place exchange with an Alexa ranking of 15,693.

Based on the above data, exchanges that posted the highest volume were not necessarily the exchanges with the most web traffic and engagement.

It contrast, lower volume exchanges may pick up more overall traffic as a result of various promotional offers, gimmicks and other tactics getting interested less sizable folks in the door, but may not see a resulting sizeable increase in volume.

These exchanges might be hosting more traffic while yielding less volume as many nonprofessional traders interested in investing a few dollars worth of cryptocurrency engage with these platforms.