U.S Leads the Centralized Exchange Traffic Race

The American public seems to have faith in centralized exchanges.
Binance has been the subject of intense scrutiny.
Things might become far worse if conflicts and inflation problems persist.

The people of the United States of America still seem to have faith in centralized exchanges despite widespread skepticism. This is proved by research from Crypto India. According to the findings, the United States has the highest volume of crypto users, which in turn causes traffic on the Centralized Exchanges (CEX).

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In light of this, the staunch supporters of CEX are finding new reasons to be optimistic despite the ongoing repercussions of FTX’s demise. They anticipate that centralized markets will persist. However, FTX isn’t the only rumored centralized exchange this year.

The biggest cryptocurrency exchange, Binance, has been the subject of intense scrutiny due to the visibility of its proof of reserves. Once again, the highly speculative digital asset market has been rocked by the failure of global behemoths like Terra, 3AC, and Celsius.

Although the United States accounts for more than 7 percent of all traffic in the centralized exchanges, Korea is a close second. Sanctions have been imposed on Russia for some time, and the conflict is often used as a justification. Despite this, the nation has risen to the third position globally in terms of traffic despite capturing over 6% of the market.

Also, inflation has recently risen in Turkey. Due to this, almost 5% of all exchange traffic comes from the nation.

It’s worth keeping in mind that things might become far worse if conflicts and inflation problems persist. If this occurs, the market might suffer a severe crash from which it would take a long time to recover.

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Godfrey Mwirigi

Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.