The coronavirus pandemic has pushed global markets into a state of shock – but major cryptocurrency exchanges appear to remain unaffected.

Seven crypto exchanges The Block spoke with – including centralized, decentralized and peer-to-peer (P2P) marketplaces – said they have witnessed increased user numbers and trading volumes since the pandemic started escalating.

“We’ve seen a significant uptick in sign-ups and a 300% increase in verified accounts,” Dave Ripley, chief operating officer at Kraken, told The Block. Ripley did not disclose specific user numbers, but said Kraken currently serves “millions of clients around the world.”

OKEx has also seen “steady” growth in its user base, CEO Jay Ho told The Block. “Especially during early-March, we recorded an estimated 1.7% boost globally.”

Quick Take

  • Major cryptocurrency exchanges appear to remain unaffected by the COVID-19 pandemic’s economic impact
  • At least seven exchanges The Block spoke they have seen an uptick in user sign-ups and trading volumes
  • These include Kraken, Gemini, Bitfinex, OKEx, Bitstamp, Paxful, and KyberSwap.

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