As the outbreak and subsequent economic fallout of COVID-19 gripped global markets, stock charting site TradingView saw its traffic soar to all-time highs, according to general manager Pierce Crosby.
TradingView is reporting approximately 23,000 sign-ups a day, more than double the rate before the coronavirus-tied turbulence began at the end of February. The firm, which offers charting tools and educational material for retail and day traders, is now ranked 200th in terms of its web traffic, according to data from Alexa.
During a live episode of The Scoop, Crosby said the surge could be connected to folks looking for new hobbies while sporting events, bars, and restaurants remain closed.
"You can only watch so much Netflix," Crosby said. "I assume we are just one of many who have see skyrocketing internet traffic, because what else are you doing?"
Indeed, TradingView is not the only one benefiting from haywire markets. Despite crypto markets being relatively buoyant compared to U.S. stocks, crypto exchanges have reported an uptick in user registrations, as noted by The Block's Yogita Khatri. Kraken, for instance, has seen a 300% increase in verified accounts on its crypto exchange platform.
Still, Crosby noted during the interview that most newcomers to the site have been more interested in gold and stock charts rather than cryptocurrencies. Those categories don't dwarf crypto, to be sure.
"In terms of traffic stats overall, crypto remains pretty entrenched as an audience but I think that a lot of newbies are not as excited about crypto purely because daily volatility in the S&P500 is incomparable," Crosby said.
These developments illustrate the degree to which lockdowns across the globe have impacted behavior and spending. As noted by The New York Times, internet services companies are among the least impacted by a mass decline in consumer spending.
Source: The New York Times
Watch the full episode with TradingView's Pierce Crosby: