What AI tells your users, and which pages it reads
Search no longer ends on the results page: the user asks an assistant too, and the assistant reads pages that rank. We measured which ones.
On 23 October 2026 we put 36 questions to Perplexity and to ChatGPT with web search, the kind a user asks before choosing: the safest exchange for a beginner in the US, the UK or the EU, the most secure hardware wallet, where to earn yield on stablecoins, which lending protocol is safest, where to stake ETH, how to tell whether a new token is legit, the best crypto debit card, the best crypto tax software. Every question asked for a recommendation, so every answer names products, and we read which pages each answer was built from.
| What we measured | Result | What it means for you |
|---|
| Cited pages that are a ranked list or a comparison | 69% on Perplexity (246 of 358 citations), 73% on ChatGPT (56 of 77) | The pages answers are built from are the shapes users search: “best”, “vs”, “is it safe”. Those are the pages to build, and the lists to be on. |
| Citations on the own site of a project the answer recommends | 6% on Perplexity (22 of 348). In 15 of those 22 the page was the project’s own “best of” list ranking itself among competitors | When a project’s own site gets into the answer, it is usually its comparison page. A product page alone rarely does. |
| Coinbase, the brand named most often | Named in 12 Perplexity and 16 ChatGPT answers. coinbase.com cited in none of them | Ranking your homepage for your own name is not being the source. The source is the page that answers the question the user asked. |
| Citations on another crypto company’s blog or learn pages | 30% on Perplexity (105 of 348), in 32 of 36 answers. A tax-software company is the fourth most-cited domain, for its pages on the best exchanges | Other crypto companies win these citations with their guides. That is search content any product can build on its own domain. |
| Answers citing crypto media | 27 of 36 on Perplexity, but 32 of the 50 media citations are the outlet’s own ranked lists, not news. 2 of 36 on ChatGPT | Crypto-media links are worth less than their logos suggest: much of what gets cited is their list pages, and their paid posts carry sponsored links. |
| ChatGPT answers given without searching the web | 11 of 36, including both stablecoin-safety questions and all five questions about whether a new token is legit | Search work moves the answers that search. For the ones that do not, the lever is coverage over time, which is the PR side of the plan. |
| Reddit, YouTube and regulators cited | Reddit 8 citations of 358, YouTube 0, regulators 2, on Perplexity. None of the three on ChatGPT | Threads are a small source in these answers, but they rank in Google for review and “legit” queries, which is where they earn the work. |
One domain makes the point. The fourth most-cited site in Perplexity’s answers was a crypto tax-software company, cited for its pages about the best exchanges and cards, not about tax. The company that publishes the category’s comparison pages is cited for the category.
Method: Perplexity (sonar) and ChatGPT (gpt-4.1-mini with web search) through the API, 23 October 2026, one answer per question, 36 questions in eight categories, US unless the question was about the UK or the EU. A source is a distinct page the answer cites; ChatGPT’s logo links above each product it lists are not counted. Domains were classified by hand and five answers checked against the raw responses. A small sample, read as a direction: Perplexity returns at most ten sources an answer, so its ten is a ceiling, not a finding.