The Central Bank of Russia has recorded an increase in citizens' activity in the cryptocurrency market, with web traffic increasing by 16.4% in the last two quarters. This was reported by the regulator's press service.
There is an increase in the activity of Russians in the cryptocurrency market in Q4 2023 – Q1 2024, which may be due to the growth of their quotations. The total web traffic of Russian users on the websites of the largest cryptocurrency platforms in the reporting period increased by 16.4% compared to Q2–Q3 2023 and amounted to 104.6 million visits.
At the same time, the average monthly number of unique users of the largest crypto exchanges increased by 15.1%. In the total number of visits, the share of Russians also increased to 7% in January–March 2024, but is still less than the peak value of the same period last year (9%).
The Bank of Russia also recorded a redistribution of web traffic of Russians against the background of Binance's departure from Russia. If in the third quarter of 2023, Binance accounted for 47% of the total web traffic of Russians, then in the first quarter of 2024, the share decreased to 16%.
The departure of the Binance cryptocurrency exchange service became known in the fall of 2023, the platform sold its business in the country to the domestic company CommEX.
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