These Crypto Websites are Defying the Bear Market – What's Going On?
Is 2023 really worth calling a ‘bear market’ year for crypto? A look at website traffic data for major industry domains suggests the answer may be a bit complicated. Here's the latest....
- Website traffic data for major crypto industry domains suggests that calling 2023 a "bear market" year for crypto may be complicated.
- Binance and Coinbase, two of the largest crypto exchanges, experienced a decline in monthly website visits.
- However, other exchanges like OKX, HTX, Gate.io, CoinW, XT.com, and Bitmart saw substantial growth in their website traffic.
- Kraken, a prominent U.S.-based exchange, also experienced an increase in website traffic.
- Software wallets like MetaMask and self-custody wallets like Trust Wallet, as well as decentralized exchange Uniswap, also saw a rise in traffic.
- Bitrefill, a cryptocurrency gift card company, also experienced an increase in website visitors.
- Bitcoin's price is still up 62% year-to-date, with expectations of a surge next year following a likely Bitcoin spot ETF approval and the upcoming halving in April.
- Standard Chartered bank predicts Bitcoin could reach $120,000 by 2025.
The sentiment of the article is mixed. While there is a decline in website traffic for some major exchanges, there is also substantial growth in traffic for other exchanges, wallets, and decentralized platforms. The mention of Bitcoin's price increase and future expectations adds a positive sentiment.