Cryptocurrency
What bear market? These crypto websites see traffic rising in 2023

Cryptocurrencies like Bitcoin (BTC) have been widely described as going through a bear market in 2023, but this may not exactly be the case, according to indicators such as the website traffic of certain crypto platforms.
Some major cryptocurrency websites, such as Binance and Coinbase, have seen a significant traffic drop in 2023, but there are many crypto sites that have experienced the opposite.
According to data from the web analytics platform Similarweb, the number of total monthly visits on the Binance website tumbled by 22% from 69 million in January 2023 to 54 million in August. Coinbase’s website has experienced a 15% traffic decline over the period, with the number of visits dropping from 33.5 million to 28.4 million.
A number of cryptocurrency exchange websites have had more success in terms of traffic, though. According to Similarweb data accessed by Cointelegraph, the websites of crypto exchanges OKX, HTX (formerly Huobi), Gate.io, CoinW, XT.com and Bitmart have seen a notable increase in traffic year-to-date (YTD).
According to the data, monthly visits to the HTX website surged more than 200% YTD, rising from 7.3 million in January to 22 million in August. The website of OKX saw a similar traffic increase, with total monthly visits jumping 185% from 8 million in early 2023 to 22.8 million in August.
The Gate.io and Coinw exchanges saw their website traffic surge by 143% and 66% YTD, respectively. The website traffic of crypto trading platforms XT.com and Bitmart has surged about 40% this year so far, reaching more than 9.5 million monthly visits.
Kraken, a major crypto exchange in the United States, has also seen its traffic rise this year, surging about 11% from 5 million to 5.6 million YTD, according to the data.

The websites of certain centralized cryptocurrency exchanges (CEX) are not the only crypto websites that have seen traffic increase this year. There is also a rising trend among some software cryptocurrency wallets as well as decentralized crypto exchanges (DEX) and other crypto services.
MetaMask, a major self-custodial cryptocurrency wallet, has recorded a 31% jump in traffic, with monthly visits surging from 4.5 million visits in January 2023 to 5.9 million in August. Binance’s self-custody wallet, Trust Wallet, has also seen its traffic grow this year, edging up roughly 7% from 2.9 million to 3.1 million monthly visits.
Major DEX Uniswap has posted a 28% increase in website traffic so far this year, rising from 3.9 million visits in January to 5 million visits in August.
Cryptocurrency gift card company Bitrefill is also among the crypto websites that have experienced some traffic growth this year. By August, the Bitrefill website had reached 1 million monthly visitors, up 12% from around 900,000 monthly visits in January 2023.
Related: India, Nigeria, Thailand top Chainalysis’ 2023 Global Crypto Adoption Index
With many cryptocurrency websites seeing notable growth this year, this could suggest that crypto may not have been in a bear market after all. While cryptocurrency website traffic does not reflect trading volumes, it can still serve as an important indicator of adoption and demand for cryptocurrency services.
Cryptocurrency website traffic is not the only evidence that crypto is not in a bear market, according to several observers.
According to one definition of a bear market, a bear trend happens when a market index or asset declines by 20% or more from its recent high. At the time of writing, Bitcoin is just 12% down from its most recent high of $31,400, according to data from CoinGecko.
According to some industry observers, it’s not quite accurate to say that cryptocurrencies have been in a bear market recently, as “Bitcoin always has and always will be in a bull market.”
Cryptocurrency
Ethereum Price Analysis: Is ETH Staging a Push Toward $2.8K or Facing a Crash to $2K?

After breaking below the ascending flag pattern, Ethereum has retraced to retest the broken trendline. Should the selling at this level pressure intensify, a deeper decline toward the $2K support zone may follow.
By Shayan
The Daily Chart
ETH recently broke down from its ascending flag pattern, triggering a corrective phase. After finding strong support around the $2.1K level, the cryptocurrency bounced and retraced toward the broken trendline at $2.4K, where it now appears to be encountering resistance.
Despite the rebound, the lack of significant volatility and waning momentum around this key level suggests that buyers are exhausted. If the selling pressure intensifies here, ETH is likely to complete its pullback and extend its correction.
In this case, the $2K mark is emerging as the next key defensive zone where the bulls may attempt to regain control.
The 4-Hour Chart
Zooming into the 4-hour timeframe, ETH initially found strong support within the 0.5–0.618 Fibonacci retracement zone, a historically reliable level during corrections.
The sharp reaction from this range led to a quick move upward. However, the rally has now stalled precisely at the previous flag’s lower boundary, which currently acts as resistance near $2.4K.
This rejection increases the probability of another downward leg, unless the buyers are able to swiftly reclaim control. The $2.1K zone, which overlaps with the Fib support, remains a key battleground.
As long as this area holds, the market structure retains a bullish bias. If breached, however, it may pave the way for a deeper decline toward $2,000.
By Shayan
The funding rate metric serves as a crucial gauge of trader sentiment within the futures market. Typically, in a healthy and sustainable uptrend, funding rates increase steadily, reflecting growing interest from long position traders across both the perpetual futures and spot markets.
However, recent trends reveal a decline in Ethereum’s funding rates, signalling waning bullish momentum and potential buyer fatigue. This shift raises the probability of a short-term rejection and deeper corrective movement.
That said, as funding rates approach the neutral zone near zero, it may suggest a reset in leveraged positions, indicating that the market is cooling off. This environment often precedes renewed demand and could pave the way for a strong bullish continuation once the current consolidation phase concludes.
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Cryptocurrency charts by TradingView.
Cryptocurrency
XRP Surpasses BTC, ETH in This Surprising Metric Despite SEC Lawsuit Roadblock

TL:DR
- Ripple’s lawsuit resolution against the US SEC will have to wait even longer as Judge Torres denied the two parties’ joint motion for an indicative ruling.
- However, this seemingly negative development has turned the community bullish on XRP, according to data from Santiment.
With crypto moving sideways, retail optimism toward Bitcoin & Ethereum has died down a bit. Meanwhile, XRP sentiment is currently at a 17-day high, in terms of positive vs. negative commentary. This has happened after a $50M settlement between Ripple & the SEC was stalled. pic.twitter.com/zJctKgEiPf
— Santiment (@santimentfeed) June 27, 2025
As the analytics company informed, the bullish vs. bearish posts on social media in regards to the fourth-largest cryptocurrency have skyrocketed to a 17-day high.
Consequently, XRP has surpassed the two biggest digital assets by market cap, bitcoin and ether, both of which are performing a lot better in terms of price actions in the past week or so.
BTC managed to reclaim the $100,000 line after its brief hiatus below it and now sits at around $107,000 as the geopolitical environment in the Middle East improved. ETH also recovered from its substantial slump and is back to $2,400.
In contrast, XRP’s price has been trading downward for weeks and is currently below $2.1 after another 3-4% daily drop. The latest setback took place yesterday following Judge Torres’s decision to deny the joint motion filed by Ripple and the SEC for a quicker resolution in their lawsuit.
Nevertheless, it’s not all doom and gloom as the XRP token saw a major adoption announcement earlier this week, as you can check here.
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Cryptocurrency
Is Ethereum (ETH) Seriously Undervalued Right Now? Many Whales Bet On It

Ethereum (ETH) began climbing again this week, along with the rest of the market. However, it remains trapped under the $2,879 level for now.
Even as it struggles to spearhead the much-anticipated “altseason,” its network activity is telling a louder story.
Historic Activity on Ethereum
On June 25, Ethereum recorded 1,750,940 confirmed transactions. This was the third-highest daily count in its history and breaking a months-long downward trend in on-chain activity.
The “Ethereum: Transaction Count (Total)” metric captures all confirmed network transactions, including ETH transfers, DeFi operations, smart contract executions, and DApp interactions, and gives a clear insight into real usage. Such high activity levels have not been seen since January 14, 2024, when the cryptocurrency set its all-time high record with 1,961,144 transactions before usage gradually declined.
The latest spike comes even as ETH’s price has shown volatility, ranging between and $2,111-$2,879 over the past month, as traders, DeFi protocols, and arbitrage bots actively adjust positions in real time. This divergence between price weakness and strong on-chain activity suggests a potential early signal of accumulation and renewed DeFi interest, even if it is not yet reflected in ETH’s market valuation.
Meanwhile, institutional and retail interest seems to be steady, with stable ETH holdings on exchanges and rising transaction volumes on Layer 2 networks like Arbitrum and Optimism, which continue to handle a significant share of Ethereum’s daily settlement activity.
CryptoQuant said that these developments point to deeper structural resilience in the network’s usage patterns.
“These developments reinforce Ethereum’s pivotal role in the broader crypto ecosystem and suggest that the network’s recent on-chain spike is not an isolated event, but part of a deeper structural recovery.”
Amid these signals of underlying strength, whale activity has emerged as another key indicator reflecting deep-pocketed confidence in Ethereum.
Whale Purchases Accelerate
Whales continue aggressive ETH accumulation, rapidly draining exchange supplies. Investor Ted Pillows highlighted one whale’s $8.91 million ETH purchase via Galaxy Digital yesterday, adding to $422 million in Ethereum amassed within a month.
These large-scale buys suggest mounting confidence among whales, even as overall market sentiment remains cautious.
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