According to a recent survey, from June to September 2019, traffic on crypto exchanges decreased by 37%.
In other words, in just three months more than a third of the exchange’s web traffic was lost, to such an extent that in September the total volume of traffic was lower than that of April, returning to the levels of the beginning of the year.
This is certainly in part due to the fact that in June, the month with the most traffic in 2019, there were annual peaks both in the price of bitcoin and in the market capitalisation of the entire crypto market.
Nevertheless, the loss of traffic in just three months has been very significant, and the fact that it has fallen below the level of April when bitcoin was still worth less than $5,000, suggests that the reasons may not be solely related to prices.
The analysis was conducted by Larry Cermak of Block Genesis, who analysed the monthly traffic of 37 crypto exchanges from April to September 2019.
Cermak found that in September the total traffic was 103.6 million hits, compared to over 150 million in June.
The exchange with the most traffic would be Coinbase, with an estimated volume of about 157 million visits in the last six months, followed by Binance with almost 148 million.
The fact that the trading volumes have also fallen suggests a possible decline in the interest of ordinary investors in cryptocurrencies.
From April to June the interest of non-professional and non-institutional investors could have increased a lot, probably because of the significant increase in prices and news of a possible arrival of a giant like Facebook in this market.
But as prices began to fall, and the Libra project began to falter, the interest of non-professional investors might have easily diminished, to the point of causing a considerable number of people to temporarily cease visiting exchanges. In this case, it is likely that if prices rise significantly again, ordinary investors may return to them in the future.