Similarweb Report: Crypto in a depression as public interest declines

Coinbase is set to announce its Q3 results, and you may be interested in finding out how it, and the wider market, has been performing this quarter.  Digital intelligence platform Similarweb has looked into traffic and sign-ups for Coinbase and rival exchanges, including FTX and Binance, and found that interest in crypto is declining. This doesn’t just apply to exchanges, interest in NFT’s and the metaverse is also falling. 

Similarweb’s key findings include: 

• Overall traffic to Coinbase was down 44% in Q3 2022 compared with Q3 2021. This is a trend in the space, with Binance down 46.5%, FTX down 36.1% and Kraken down 48% in the same time period. 
• Traffic to the Coinbase signup page was down 30.8% year over year in Q3. 
• Coinbase app engagement is also declining, which is a worrying sign considering the exchange encourages app usage. 
• Overall interest in crypto is declining, with traffic to NFT marketplaces down 58% and traffic to metaverse and crypto games down 74%. 

Read the full report.