This week, TokenAnalyst analytical service published data on the flow of Bitcoin transactions between wallets on cryptocurrency exchanges.
In total, cryptocurrency exchanges sent 1.62 million BTC in 2019. The most popular direction between traders is the channel between Huobi and Binance crypto exchanges. This year, from the Huobi exchange to the Binance exchange processed 259 thousand BTC. The total number of transactions is 48 thousand transactions, the average amount of which is above 5.4 BTC.
Note, the number of transactions is half as much with a volume of 137 thousand BTC in the opposite direction. Despite this fact, the Binance – Huobi channel is the second most popular way among crypto traders in 2019.
The total number of transactions processed through this direction is only 4 thousand less than in Binance – Huobi channel or 44 thousand transactions. The average amount is above 3.1 BTC.
The experts of TokenAnalyst service also note a high demand between crypto exchanges, including Bitstamp, Bittrex, Poloniex, Kraken, Bitfinex, and Bitmex. But that volume is negligible compared to the huge data in the channel between Huobi and Binance.
The Popularity Of Crypto Exchanges Among Traders
Another interesting study on cryptocurrency exchanges appeared on the network this week. Therefore, researcher Larry Chermak conducted a study of 37 digital asset exchanges. In the course of the work, the specialist found out that since June this year, their traffic level has dropped by 37%.
The researcher concluded that the negative dynamics of attendance indicators of digital asset exchanges is observed around the world. The results of the study, in his opinion, to indicate a decrease in interest in cryptocurrencies among retail investors.
Coinbase turned out to be the leader in terms of traffic. From April to September 2019, the largest number of visitors was recorded at the site – about 157 million. Binance is in second place. Over the designated period of time, about 148 million people visited the platform. The BitMEX platform takes the third place in his rating.
Note, that not one of the platforms designated by the researcher as the most visited is in the top 10 exchanges by the total trading volume of the CoinMarketCap source.
According to commentators on the network, a decrease in the number of visitors does not indicate a lack of interest in cryptocurrencies.
Users suggested that at the moment, the audience of interest to the researcher simply prefers to store savings without showing activity on crypto exchanges. Some of them note that the drop in traffic also coincided with a decrease in trading volume since June on the mentioned digital asset exchanges.
Recall that earlier, representatives of The Tie in partnership with the eToro platform team, suggested that traders use data on the level of investor interest in cryptocurrency as the basis for generating profitable transactions.