According to a recent study conducted by Trading Browsers, a digital asset analytical tool, retail investors’ attention was mainly directed towards Crypto.com and Gate.io platforms in the initial days following the collapse of the FTX cryptocurrency exchange.
In the days immediately following the FTX ecosystem’s meltdown between November 9 and 13, 2022, Trading Browers analyzed which of the leading cryptocurrency exchanges had the most substantial increase in Google search and trading volumes.
The Trading Browers study revealed that Crypto.com recorded a remarkable 333% rise in Google search inquiries and a 232% surge in trading volume during the stated timeframe. Meanwhile, Gate.io saw a notable surge in search interest (+300%) and total turnover (+181%).
On the other hand, although Bybit (+412%) and Bitfinex (+410%) had the most significant increase in trading volumes during the timeframe, their growth in search interest was much lower at 63% and 50%, respectively.
The spokesperson for Trading Browser commented that the cryptocurrency industry’s agility and adaptability were exemplified by traders who could quickly shift their focus to other exchanges or secure wallets during the FTX cryptocurrency exchange collapse. The study’s results demonstrated the importance of staying abreast of market trends, pivoting strategies quickly, and offered valuable insights into the market’s current state and traders’ behavior. This information can help investors make well-informed decisions about their investments.