In May, Russian users accounted for 27% of the total traffic on the cryptocurrency exchange Bybit, according to journalist Colin Wu. Read more.
Traffic from Russia to Bitfinex increased to 22%, Deribit to 15%, and OKX to approximately 9%.
Other platforms popular among Russians include HTX (14%) and MEXC (10%).
From April to May, traffic to major exchanges declined. Only OKX, Bitget, and Deribit saw overall traffic growth. Notably, 10% of Deribit’s users during this period were from Uzbekistan.
In May, the most popular platforms among U.S. visitors were Coinbase (60%) and Crypto.com (25%).
Binance’s main traffic sources were residents of Argentina, Turkey, and Vietnam, each contributing 5-6%.
Last month also saw a decline in spot and derivatives trading—by 20% and 11%, respectively.
Back in April, the share of Russian traffic on Bybit was 25%.