Insights Insights

Crypto.com Suffers Biggest Loss of Traffic Among US Cryptocurrency Exchanges, Down Nearly 60%

Crypto.com Suffers Biggest Loss of Traffic Among US Cryptocurrency Exchanges, Down Nearly 60%

Free Website Traffic Checker

Discover your competitors' strengths and leverage them to achieve your own success

Coinbase is still the largest in the US, but competitors including Binance are making inroads

The share of traffic commanded by Coinbase, the biggest US cryptocurrency exchange, is shifting incrementally toward other players, including international crypto giant Binance.

Key takeaways

  • Crypto.com, which gained fame with Matt Damon as its “fortune favors the brave” pitchman, lost 59.1% of its web traffic on a year-over-year basis in March and gave up 3 points of share of traffic within the competitive set we evaluated, according to Similarweb estimates.
  • For Coinbase, the year-over-year drop was 39.1%.
  • The site doing the best in a bad market was Kraken, which held its year-over-year loss of traffic to 1.6% and gained 1.9 points of share amongst these competitors. Kraken also had the best gain in traffic from February to March, up 34.1%.

All these figures are based on traffic from within the US. Making comparisons internationally is more challenging because of the many country-specific domains exchanges have created to fit in with varying regulatory environments around the world.

Everyone’s underwater on a year-over-year basis

The biggest annual traffic decreases afflicted Crypto.com, down nearly 60%, and Coinbase, down 39.1%. Kraken did a relatively good job of holding onto its traffic, which dipped just 1.6% on a year-over-year basis.

chart: year-over-year traffic declines

Bouncing back, compared with February

All of these exchanges did significantly better in March compared with February, with Kucoin, Kraken, and Bitfinex each up close to 30%.

chart: month over month traffic change

Crypto.com was the biggest loser in share of traffic

Crypto.com saw the biggest loss in terms of share of traffic among these competitors, down 3 points from 8.7% a year ago to 5.7% in March. Coinbase lost 1.6 points but still owns 73% of the traffic within this competitive set.

Kraken gained 1.9 points of share and the U.S. subsidiary of Binance gained 1.5 points.

chart: change in share of traffic

Coinbase still by far the biggest in the US market

Despite an incremental loss in share, still attracts more than 9 times as much traffic as its nearest competitor in the US.

chart: relative volume of US traffic for cryptocurrency exchanges

Internationally, things look very different, with Binance more than twice as large as Coinbase by traffic volume.

Coinbase (NASDAQ: COIN) is expected to announce earnings on or about May 9.

The Similarweb Insights & Communications team is available to pull additional or updated data on request for the news media (journalists are invited to write to press@similarweb.com). When citing our data, please reference Similarweb as the source and link back to the most relevant blog post or similarweb.com/blog/insights/.

Contact: For more information, please write to press@similarweb.com.

Report By: David F. Carr, Senior Insights Manager

Methodology

Disclaimer: All names, brands, trademarks, and registered trademarks are the property of their respective owners. The data, reports, and other materials provided or made available by Similarweb consist of or include estimated metrics and digital insights generated by Similarweb using its proprietary algorithms, based on information collected by Similarweb from multiple sources using its advanced data methodologies. Similarweb shall not be responsible for the accuracy of such data, reports, and materials and shall have no liability for any decision by any third party based in whole or in part on such data, reports, and materials.

author-photo

by David F. Carr

David covers social media, digital advertising, and generative AI. With a background in web trends since the 1990s, he’s also the author of "Social Collaboration for Dummies".

This post is subject to Similarweb legal notices and disclaimers.

Wondering what Similarweb can do for your business?

Give it a try or talk to our insights team — don’t worry, it’s free!

Would you like a free trial?
Wouldn’t it be awesome to see competitors' metrics?
Stop guessing and start basing your decisions on real competitive data
Now you can! Using Similarweb data. So what are you waiting for?
Ready to start digging into the data?
Our comprehensive view of digital traffic gives you the insights you need to win online.