The crypto market saw a reduction in its monthly ATH market cap from $1.287 trillion in April to $1.232 trillion in May. While the industry has been facing legal challenges with crypto regulators in the US, over 200 million visits were recorded on the top 10 exchange websites in May 2023.
According to information from ICO Analytics, here’s the list of the top ten:
Binance
Binance is the largest cryptocurrency exchange in the world by trading volume. It offers a wide variety of features, including spot trading, margin trading, futures trading, and staking. Binance is also the first cryptocurrency exchange to offer a native token, BNB. Binance had 62 million visits, taking the top spot.
Although Binance sits at the top, its traffic in May dropped by 7.7% compared with that of April. Part of this might be due to the legal battles the CEO of the crypto exchange, CZ, is facing with US regulators, and the prevailing market sentiment.
Coinbase
Coinbase is one of the oldest and most popular cryptocurrency exchanges in the world. It offers a user-friendly interface and a wide range of features, including spot trading, margin trading, and staking.
Coinbase is also a regulated exchange, which means that it is subject to certain financial regulations. With 29 million visits, Coinbase is in second place.
Similar to Binance, Coinbase had a drop relative to April of 11%. Coinbase has also been facing legal suits with the SEC.
Bybit
Bybit is a cryptocurrency exchange that offers margin trading and futures trading. It is known for its high leverage and low fees. Bybit is also a popular choice for professional traders. Behind Binance and Coinbase is Bybit, at 15 million. Bybit saw a 19% drop in traffic from April to May.
PancakeSwap
PancakeSwap is a decentralized exchange (DEX) that is based on the BNB Chain. It offers a wide variety of features, including spot trading, and yield farming.
PancakeSwap is also a popular choice for users who want to trade without having to go through a centralized exchange. The number one in terms of DEX and fourth overall at 14 million.
Pancakeswap got a 13% increase in traffic compared with the previous month. The importance of decentralized exchanges is on the rise as centralized platforms face regulatory crackdowns.
Bitget
Bitget is a cryptocurrency exchange that offers margin trading and futures trading. Like Bybit, it is known for its high leverage and low fees. Currently, there are 513 coins and 580 trading pairs available on the exchange. Bitget also had 14 million visits with a 19% increase in visits.
Gate.io
Gate.io is a cryptocurrency exchange that offers spot trading, margin trading, futures trading, and staking. Gate.io offers trading bot services for its over 1,700 cryptocurrencies. The exchange sits at the sixth position with 13 million and received 4.3% more traffic than in April.
Whitebit
Whitebit is a cryptocurrency exchange that offers spot trading, margin trading, and futures trading. Users can also access services in different languages including English, Chinese, Russian, and Spanish as these order types – market, limit, stop-limit, OCO, and IOC. Whitebit had 13 million visits too. Whitebit went down in visits by 5.5% compared to its figure in April.
Bitmart
Bitmart is a cryptocurrency exchange that offers spot trading, margin trading, and futures trading. At 12 million, Bitmart is the eighth most visited crypto site in May. It had the highest increase of 96% of all sites from April.
Mexc
Mexc is a cryptocurrency exchange that offers spot trading, margin trading, and futures trading. Mexc has over 180 crypto trading pairs for users. Mexc is ninth with 12 million visits too. It had the same increase as Pancakeswap at 13%.
OKX
OKX is a cryptocurrency exchange that offers spot trading, margin trading, futures trading, and staking. It has both the OKX mobile & desktop apps from where users can trade over 350 cryptocurrencies and more than 500 trading pairs. OKX is the tenth most visited crypto site in May at 8.8 million visits. It lost 6% of its traffic.
Others are Uniswap, 8.7 million, Kucoin, 8.1 million; Huobi, 7.2 million; Upbit, 6.0 million; Kraken, 4.8 million; Crypto.com, 4.4 million; Bitfinex, 4.1 million; Bitbank, 2.6 million; Indodax, 2.3 million; and Binance.US, 2.2 million.
Read also;
Top 10 Centralized Exchanges in Q1 2023
Top 10 Decentralized Exchanges in Q1 2023
