As a matter of fact, the entire cryptocurrency market has fallen in recent months with a huge drop in the prices of all cryptocurrencies. Surprisingly, the report from Arcane Research reveals that traders from more than 20 countries are interestingly trading these assets, which increases the movement of cryptocurrency exchanges. It also proves that the active user participation in the market is still higher in history.
Moreover, the obscure research shows that nearly 52.4% of visitors were logged in from all exchanges in the past three months despite the market downturn. On top of the detailed research, the analysis includes more than 35 global cryptocurrency exchanges. And the American traders are the American traders. The results show that active participants in the United States account for 14.33% of all visits to cryptocurrency exchanges.
American traders dominate cryptocurrency exchange 🇺🇸
ArcaneResearch August 24, 2022
However, the interest of traders in cryptocurrency is booming, which accounts for the use of cryptocurrency exchanges at high rates.
The rate of trade in cryptocurrency exchanges has increased worldwide
After the United States, traders from South Korea and Russia occupy the second and third level of participation in the list. In the last 90 days, South Korea and Russia accounted for 6.51% and 4.87% of traffic. Thus, it is clear that the US has a large number of cryptocurrency users actively trading their assets.
More so, the rest of the 17 countries in the main ranking were Turkey, Japan, UK, India, Ukraine, Brazil, Vietnam, Argentina, Canada, Germany, Indonesia, Philippines, Poland, Singapore, Spain, France and Italy respectively.
So there were many reasons why the US market gained the dominant traders. To be more specific, the US cryptocurrency market has initiated many regulatory changes, crypto adoption by many institutional companies and a huge volume of cryptocurrency mining as well.
In addition, to monitor the leading cryptocurrency exchanges, it is the Binance platform that has seen the most visits to the site with 300 million traffic in the past three months. Next, we listed Coinbase as the second crypto exchange with 121 million visits in the same period.
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