The number of users of the Kraken exchange has increased five times

Bitcoin exchange Kraken has more than doubled its share of the US crypto market in 18 months.

As The Block portal clarifies, the trading platform was able to significantly increase the number of users of its mobile application.

The bankruptcy of FTX in November and lawsuits against Binance and Coinbase in July 2023 were the main factors that strengthened Kraken’s position in the US. In addition to increasing market share in the spot market, the number of users of the exchange application increased by about five times.

According to Shannon Kurtas, a representative of the company’s top management, over the past 18 months, the popularity of the platform among mobile device users has increased significantly both in the US and in other countries.

In the Eurozone, Kraken handles up to 50% of digital currency transactions.

Last year, this exchange accounted for about 35% of crypto transactions using the euro.