Kraken Statistics – How Many People Use it in 2024?

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The cryptocurrency space has exploded over these past few years. When Bitcoin, the first cryptocurrency, was created, the general public was skeptical. Despite their disbelief in the asset, its price kept going up. This attracted many to join the trend. More people and businesses are now interested in acquiring it. However, the only problem they were having was how actually to buy or store these assets. Fortunately, that’s the role crypto exchanges like Kraken are playing. Kraken ranks third on the BitDegree Exchange Tracker. The crypto exchange has a weekly trading volume of $138,192,522,565 on average. 

Kraken helps users to buy, sell, and trade different cryptocurrencies without stress. To add to the joy, all these are done in one place. This platform is an all-in-one forum, making things easy for even newbies in the space.

Since many started using the platform, it has gained much popularity. Surveys show that Kraken has brought over 8 million users from around the globe to its platform. This indicates that millions of people have come to depend strongly on this platform. As such, one of every five crypto traders relies primarily on Kraken to exchange and store assets. This article will examine more facts and Kraken statistics that crypto lovers need to know about the exchange.

Some Exciting Kraken Statistics

1. The exchange has exploded to over 10 million active users in 2023 alone. 
2. Kranken receives nearly a million visitors every week. As of October 2023, Kraken got an average of 970,000 weekly visits from users. 
3. The United States has always been at the forefront of expanding cryptocurrency. Therefore, it’s no surprise that over 36 percent of Kraken’s audience comes from this place.
4. Demographically, Kraken attracts a lot of digital assets enthusiasts in their late 20s to mid-30s. 
5. Surprisingly, more dudes are trading on Kraken. The report says they make up almost 74% of Kraken’s customers. 
6. Most people visiting Kraken come directly to the website or app, not links or search engines. 
7. Beyond that, this company keeps extending its reach all over the world. Presently, it serves customers from more than 190 different countries. 
8. Kraken recorded yearly high inflows and outflows on the same day in November 2023. The customers also moved lots of funds in and out of the platform on the same day.

About Kraken

Created in 2011, Kraken remains among the long-existing crypto exchanges. Its headquarters is located in the United States. It was among the first Bitcoin exchanges listed on the Bloomberg terminal. Users from more than 190 countries have access to the Kraken exchange. These include people from the United States, Australia, the UK, Japan, Canada, and Germany. However, the exchange is restricted in some regions and countries. Notably, Kraken is not available in some OFAC nations like Iran, Cuba, Afghanistan, Libya, Iraq, Syria, Lebanon, North Korea, Yemen, and others.

Kraken Regulation

Kraken complies with regulatory standards and requirements in different regions:

• The exchange runs business as a Money Service Business (MSB) in the United States. 
• In Canada, the exchange bagged an MSB.
• In the United Arab Emirates, it acquired a Financial Service Provider (FSP) license.
• The United Kingdom confers the exchange of the title of a crypto asset company with a futures trading license.

Globally, Kraken has licenses from the following regulators.

• Financial Crimes Enforcement Network (FinCEN) in the United States.
• Financial Conduct Authority in the United Kingdom.
• Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in Canada.
• Abu Dhabi Global Market (ADGM) in the United Arab Emirates.
• Abu Dhabi Global Market (ADGM) by FSRA in Abu Dhabi.
• Digital Currency Exchange (DCE) by AUSTRAC in Australia.
• Virtual Asset Service Provider (VASP) by OAM in Italy.

Kraken User Statistics You Should Know

1. Kraken has an Army of Crypto Traders These Days.

We’re talking about over 10 million people who use the platform regularly. The customers depend on the platform to satisfy their different crypto needs. This is amazing, considering they had 6 million customers a few years back.

2. Nearly a Million Folks Drop by to Visit the Platform Every Week.

Sometimes, we wonder if they’re checking the coin’s price or trying to take a quick trade. However, Kraken has captured many crypto traders.

3. The United States has the Highest Number of Kraken Users, Representing 36.65% of Kraken’s Core Audience.

Data on Kraken.com website traffic by countries showed that the United States has the highest number of Kraken users. It has 1.95 users, representing about 36.65% of Kraken’s global audience. 67.35% of US users use Kraken through mobile devices, while 32.65% come through desktops. Below is a table showing Kraken’s customers in some countries and the devices they use:

4. 33.62% of Kraken Users are in the Age Category of 25 – 35 Years, Representing the Largest Age Class.

According to Kraken’s official user demographics by age, 33.62% of users are between 25 and 34. Audiences in this age category are the largest class of users. The 35 – 44 years category came second, representing about 22.09% of users, while the 18 – 24 years class came third, making up 18.06% of users. The 45 – 54 years and 55 – 64 years classes represent 13.35% and 7.73% respectively. The lowest class, comprising just 4.61% of the total users, belongs to those up to 65 years and above.

5. 73.97% of Kraken Users are Male.

Male clients on Kraken constitute 73.97% of the exchange’s total user base. This indicates that males prefer Kraken more than females, comprising 26.03% of users.

6. 67.44% of Visitors on the Kraken Website are From Direct.

Kraken records visit from different sources. About 67.44% of visitors on the Kraken site come from Direct, representing the highest source of visitors. Google takes the second place for the source of visitors with 16.68%. However, 48.25% of visitors on Kraken.com move to Google.com as their top destination. With 4.37%, etana.com takes the second top destination for visitors from Kraken.com.

7. Kraken’s Monthly Visits Plummeted by 3.33% for September 2023.

Kraken recorded about 5.32 million visits for September 2023. This value reflected a 3.33% drop from the 5.5 million visits in August. Meanwhile, the exchange saw up to 6.19 million visits in July. The monthly visits for September have an average session duration of 12.06.

8. 63.17% of Visitors on Kraken.com Use Mobile Devices.

According to a study on traffic by device shared on Kraken.com, 63.17% of visitors to the site are from mobile devices. Desktops constitute just 36.83% of the total visits on Kraken.com.

9. YouTube Bags the Largest Social Media Traffic to Kraken With 77.57% Engagement.

Most social media traffic to Kraken comes from YouTube, with 77.57% engagement. Instagram claimed the second position with 17.52% and Facebook the third with 4.91% user engagement.

10. Kraken is the Third-largest Crypto Exchange, With a Ranking Score 8.3.

According to CoinMarketCap ranking, Kraken is the third-largest crypto exchange, after Coinbase and Binance. Kraken scored 8.3, while CMC scored Binance and Coinbase 9.9 and 8.6, respectively.

11. Kraken is Available in More Than 190 Countries Across the World.

Users from more than 190 different countries have access to Kraken. These include the United States, the United Kingdom, France, Spain, Canada, Japan, Germany, Australia, and others. It is known that Kraken might not be the biggest crypto exchange presently. However, this company has prioritized the safety of its customers’ funds while making trading very simple. This means that both retail traders and institutions can now trade different crypto assets at ease. Regretfully, certain individuals who reside in New York and Washington are prohibited from creating new accounts on the platform. Additionally, American clients can no longer participate in Kraken’s staking programs to get payouts. However, the door is wide open for users outside of America.

Kraken Exchange Statistics

12. Despite the market being dominated by platforms like Coinbase and Binance, Kraken could still take a tiny piece of nearly 3% of the worldwide volume. 

13. According to experts, more than 400 million people currently possess some amount of digital assets. It now makes sense why exchanges like Kraken are growing exponentially. 

14. Just this November, Kraken saw massive spikes in customers putting in and taking out of the platform. 

15. The report shows that exchange accounts for 2% of global trading activity. Meanwhile, OKX has the highest while Binance follows as the second.

16. Not so fast; Kraken’s workforce alone has doubled recently. Incredibly, the workforce is now more than 225 people. Therefore, even if an army of new crypto converts comes knocking, Kraken has the staff and equipment to let them in.

17. “Kraken” is the top keyword search for Kraken, with 32.53%. The most-searched keyword in all Kraken-related inquiries is “Kraken,” which accounts for 32.53% of total searches. Other fascinating stats show Kraken searches are on the rise big time.

18. Keywords like “Kraken crypto” make up almost 2% of online searches lately. 

19. And “Kraken login” plus “Kraken exchange” combine for over 2.5%. Even searches concerning staking on Kraken are approaching 1%. This figure means millions of crypto fans flow into Kraken monthly to open accounts, access their wallets, stake, trade, etc.

Kraken Financial Statistics

Kraken has proven to be more useful in the cryptocurrency market. Outside crypto trading, few things are more important than liquidity (the ability to rapidly buy and sell assets without crashing the price).

20. In 2023, Kraken has facilitated around $1 billion of daily trading volume, but that’s on average. This figure might seem like a drop compared to 2021’s bonanza, when different crypto assets hit an all-time high.

21. Kraken supports about 228 different cryptocurrencies and fiats in 2023. Also, it has up to 657 trading pairs available for investors and traders on the platform. So whether you’re an institutional whale looking to move large money or just a little fish for buying crypto assets, Kraken has the volume and infrastructure to get you swimming through the crypto market.

22. Bitcoin/US Dollar pairing see the highest 24-hour trade volume at $105 million for just one day. This makes it the most popular trading pair in the exchange. Also, it means that despite the growth of other cryptos, Bitcoin remains the most in-demand asset on Kraken.

23. On average, Kraken facilitated almost fifty billion dollars in monthly trades last year. As mentioned before, this huge trading volume enables smooth liquidity and shows how active users are on the platform. Here is a view of the exchange’s monthly trading volume in the past few years:

The crypto market has been on a wide ride these past few years. Prices of different assets shoot up very high and then drop back. Kraken and other similar platforms have probably had a tough time trying to make the market stable.

Additional Kraken Statistics

24. Last two years ago, in 2021, when the price of Bitcoin was near $70,000, Kraken moved around $800 billion in assets each day. But this didn’t last for as long as expected. 

25. Last year, 2022, when the crypto winter kicked in and prices tanked, trading volume on Kraken plunged by half. But, the exchange still facilitated almost $400 billion in trades.

26. Adding to this, its revenue dipped a little last quarter by over 3 percent. But remember, that’s how the cryptocurrency works. Nothing is 100 percent sure! So, while Kraken rides both the market’s peaks and valleys, its continued growth over the long run has proven that the exchange is here to stay. Here is a representation of Kraken’s yearly revenue over the past few years.

Kraken keeps making its customers proud by keeping its head above water. Running or operating a big trading exchange like Kraken isn’t cheap. You will need infrastructure, staff, marketing, and top security mechanisms.

27. Kraken recorded a small net loss of $1.8 million in 2022. And reports show that it hasn’t had a profitable year since 2016. Despite these losses, the platform still focuses on its long-term goals.

28. The good news is Kraken has turned the hand of the clock. Its net income turned positive in the first half of this year to $1.14 million. This figure is not huge, but it is still better than being negative. The table below reveals Kraken’s total income over the past few years:

Conclusion

Through this article, you’ve discovered that more than 10 million people use Kraken. Based on its simple and thrilling user interface and low trading charges, the exchange has risen among the prominent platforms in the industry. Moreover, the Kraken exchange performed satisfactorily, increasing most of its users’ trust over the years. You can browse the Kraken platform and check if the features satisfy your investment activity. However, consider your risk tolerance in the highly volatile crypto market.

Frequently Asked Questions