According to new research, an upswing in website traffic to cryptocurrency exchanges and data trackers could signal the gradual return of retail investors to the digital asset market.

K33Research shows a 45% jump in visits to major crypto exchanges like Coinbase and Binance over the last three months. Total exchange traffic hit 801 million during the recent quarter.

Website traffic data confirms that retail is gradually returning to the market

90-day website traffic to crypto exchanges has increased 45% from the Aug-Oct figures

Similarly, website traffic to CMC and CoinGecko is up 66%

Still, both are well behind the summer of 2022 pic.twitter.com/wctju01fDQ

— Vetle Lunde (@VetleLunde) March 7, 2024

Crypto Traffic Surge Indicates Retail Investor Comeback

The spike, however, is still off the peak levels seen during the rampant bull market of mid-2022 when crypto exchange traffic topped 910 million. That summer also marked the start of crypto’s prolonged bear cycle and a string of high-profile company meltdowns.

Traffic to crypto data aggregators CoinMarketCap and CoinGecko has seen an even sharper 66% rebound, hitting 519 million visits from December through February after bottoming out at 311 million in the prior quarter.  

The resurgence in interest aligns with Bitcoin’s blistering rally in 2024. The top cryptocurrency set a new all-time high above $69,000 on Mar. 5, surging nearly 60% over the past month. Its market cap now tops $1.34 trillion.

Analysts point to the U.S. spot Bitcoin ETFs launched in January as a key driver, along with anticipation around Bitcoin’s next “halving” event, expected in April, which cuts new supply.

Disclaimer

This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.