Data has emerged, showing that 30% of TradingView’s audience are using the platform for cryptocurrency analysis on a daily basis, which is on-par with Forex. And over time, almost all TradingView users show an interest in crypto.
The findings are significant as data from TradingView, with its 8.2 million active users visiting from more than 100 countries, provides an excellent overview of the popularity of financial markets, particularly among retail traders.
Crypto Data Made Public at TradersEXPO Chicago
A presentation by Pierce Crosby from TradingView GM Americas at the TradersEXPO Chicago included a slide containing information on “Bitcoin Traders.” A photo of the presentation slide was published on Twitter by Tuur Demeester, a Founding Partner at Adamant Capital.
Charting service @tradingview now counts 2.5 million Bitcoin traders among their monthly users. “They are extremely engaged, and check in more than 7x / day on average.” HT @zackvoell pic.twitter.com/8UGp3iD417
— Tuur Demeester (@TuurDemeester) July 22, 2019
The image shows that TradingView had around 2.5 million ‘Bitcoin traders’ use its platform in June 2019, which is roughly 30% of its 8.2 million average monthly users. At its peak in January 2018, TradingView had around 5 million ‘Bitcoin traders’ visit the platform.
The text on the presentation image reads:
“Since our launch of crypto coverage in 2017, more than 5 million monthly users have utilized our product to get realtime charts and data for Bitcoin. They are extremely engaged and check-in more than 7 times per day.”
Crypto and Forex Are Most Popular on TradingView
For further information and to verify the image published on Twitter, I reached out to Rauan Khassan, Vice President, International Growth at TradingView.
When asked if there was more interest in crypto than any other market on TradingView, he replied:
“This was the case from Dec’17 to Jan’18. But for now the audience is balanced with 30% Forex (historically the strongest category since we added FX trading partners to the platform at an earlier stage); 30% crypto, 25% stocks/futures, and the remaining 15% refer to commodities, CFDs, and economy data.”
When asked if crypto traders on TradingView also follow other financial markets, Khassan replied:
“The absolute majority of traders are following multiple markets, i.e. crypto US stocks, or FX commodities. Given crypto’s volatility and regular spotlight in media coverage, most platform users refer to it over time. 30% of the total audience is working with crypto on a daily basis.”
This point was echoed yesterday by Thomas Lee, the Fundstrat Co-founder and prominent Bitcoin bull, who stated that he uses TradingView’s charting tools for multiple financial markets.
— Thomas Lee (@fundstrat) July 22, 2019
TradingView Has Embraced Crypto
Since TradingView first launched crypto coverage in 2017, it has been continuously adding new features and tools, cementing itself as a leading resource for crypto traders.
TradingView has continued to partner with leading cryptocurrency exchanges, using their data to provide its audience free real-time cryptocurrency charts on both the TradingView website and apps. TradingView currently uses data from 27 crypto exchanges:
In addition to this, numerous cryptocurrency exchanges and trading platforms have integrated TradingView to provide their customers with real-time charts and trading tools. This includes exchanges like Huobi Global, BBOD, Deribit, BitPanda, and many others.
Piotr Arendarski, Chief Economist at BBOD, provided commentary on why BBOD chose to integrate TradingView:
“At BBOD, we use Tradingview as the main charting platform for futures trading and we are proud that the platform is growing so fast. It’s a very simple way to publish high quality, easy to read charts to social media. You can also see how successful your trading calls were which is a useful tool to keep track of your success rate.”
TradingView also launched its Crypto Dashboard earlier this year which allows crypto traders to pay for a TradingView Premium plan using Bitcoin.
TradingView is happy to launch the Crypto Dashboard that is designed especially for the crypto fans!https://t.co/UKg1phUsQx
— TradingView (@tradingview) February 12, 2019
Will Crypto Become the Most Popular Market?
Considering that TradingView launched in 2011, and didn’t add crypto coverage until 2017, cryptocurrencies have quickly risen to gain as much interest as the Forex market, even briefly overtaking it during the peak of the crypto bull market. The crypto market is already more popular (on TradingView) than stocks, commodities, and other financial markets which have existed for centuries.
Whether it takes the top spot or not in future will depend on the adoption of cryptocurrencies and the development of its trading infrastructure. But as a truly global, accessible, and disruptive market, it stands a very good chance.
But perhaps the most compelling reason why crypto could take the lead was given by @tradingview in response to these recent revelations:
Disclaimer: crypto can be highly addictive. https://t.co/1fIeA9f5sG
— TradingView (@tradingview) July 22, 2019