Russian Traffic on Bybit Reaches 26 Percent in April 2025, making Russia the largest source of visits to the crypto exchange, according to Wu Blockchain data. Amid a broader decline in crypto exchange traffic, this highlights Russian traders’ preferences. The Russian crypto trading landscape also shows shifts in futures trading volumes and the American crypto market influence. This article explores where Russians trade crypto, market trends, and platform performances.
Bybit Leads Among Russian Crypto Traders
Russian Traffic on Bybit Reaches 26 Percent, outpacing other exchanges. HTX saw 11% of its traffic from Russia, while KuCoin had 5%. Previously, Deribit was popular among Russians, with 20% of its traffic in November 2024, but it exited Russia in February 2025 due to EU sanctions. On May 8, 2025, Coinbase acquired Deribit for $2.9 billion, signaling American crypto market expansion.
Overall Crypto Exchange Traffic Declines
Global crypto exchange traffic dropped 8% in April 2025 compared to March. MEXC saw a 14% traffic increase, but Gate and HTX faced declines of 29% and 60%, respectively. The American crypto market remained dominant, with Coinbase and CryptoCom seeing 68% and 46% of their traffic from the U.S. Binance, the largest by trading volume, drew 9% from India, 7% from Vietnam, and 6% from South Korea.
Futures Trading Rises, Spot Trading Falls
Futures trading volumes grew 7% in April, with MEXC leading at a 55% increase, followed by HTX (+13%) and KuCoin (+5%). Deribit saw a 20% drop. Conversely, spot trading volumes across major exchanges fell 12.3%. Gate, however, reported a 14% rise, reaching $113.7 billion and a 9% market share, per CoinGecko, placing it second after Binance.
Gate’s Performance and Market Trends
Gate’s daily trading volume hit $5.6 billion as of May 12, 2025, with 15% from the BTC/USDT pair. Despite this, its token GT, with a $2.7 billion market cap, fell 2% over the past 30 days amid lower traffic. Russian Traffic on Bybit Reaches 26 Percent, reflecting a shift in the Russian crypto trading landscape toward platforms like Bybit, while the American crypto market continues to influence global trends.
Russian Traffic on Bybit Reaches 26 Percent, underscoring Russia’s role in crypto trading despite market challenges. As futures trading grows and spot trading declines, platforms like Gate and Bybit adapt to shifting trader preferences.
