Binance Continues to Dominate the Exchange Space in Both Volume and Traffic

Binance has been dominating the Decentralized Exchange landscape recently. Here is a review of the factors behind their success.

Analytics 

Cryptocurrency and ICO (Initial Coin Offerings) analytics platform ICO Analytics revealed that in April 2021, Binance has the most web traffic. According to analytics carried out on the top 70 most popular exchanges, Binance dominated the market with almost 50% of global crypto web traffic going to the Malta-based exchange. 

Image Credit: ICO Analytics

Why Binance?

Cryptocurrency exchanges are a constant feature of the crypto market.  There are several reasons crypto users may choose one exchange over another. These reasons may range from security to ease of use and accessibility in the country of the users. When it comes to Binance, the DEX has warmed its way into the hearts of many with its SAFEU feature that protects its users in the event of a hack, plus its accessibility to over 180 countries in the world. In addition, Binance is constantly upgrading its features giving users access to a wide range of services. Users of Binance can access staking, lending, margin trading, futures trading, P2P trading, spot trading and recently, stock coin trading. With all these offerings, the Binance platform is user-friendly and is a seamless experience for investors.

What Does Web Traffic Say about Binance?

About 71.27% of Binance web traffic comes from direct users while 3.15% of the traffic comes from referrals and 17.64% from Google searches. Social media and mail deliver 3.89% and 3.89% of web traffic each. This is not the first time Binance is leading in Google searches, as in July 2020, Binance had the highest number of visitors coming in at 25 million visitors. In March 2021, Binance had 285 million users, an increase of 37% from the users in the previous month. 

Binance is showing remarkable numbers in terms of users and web traffic, a good indicator of the exchange’s credibility on the market. Binance is a leader in the crypto trading space moving from the number 2 spot as the best crypto exchange in the world in 2018 to a leader amongst crypto exchanges in 2021. Binance has built trust amongst its users when it comes to crypto trading, which is one of the most important qualities investors are looking to have. It is also a favourite across Africa, expanding into new and growing crypto markets such as Kenya, Nigeria and South Africa. Nigeria ranks among the top users of cryptocurrency in the world, which is a key component to the success of the DEX. 

Image Credit: Similar Web 

Binance Stands Tall

From the web traffic on Similar Web, we can see Binance topping the ranks with 450 million visits in April alone with CoinBase coming second with 93 Million visits. 

Image Credit: ICO Analytics

With a percentage of over 58%, Binance had the most web traffic in the month of April. Huobi Global, which was once the top-ranking exchanges in the world, fell to 18th position with 8.2 million visits in the month of April. Binance has almost 5x’d the value of the 2nd-place exchange, which is an enormous accomplishment.

Source : bsc.news

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