As a seasoned crypto investor with a decade-long journey through the digital asset landscape, I find the latest Coinbase earnings report intriguing and enlightening. With my personal portfolio heavily weighted towards Bitcoin and Ethereum, it’s reassuring to see these two giants maintain their dominance on the platform.
In the United States, the third-quarter corporate earnings reporting season carries on, providing us with insights into the cryptocurrency market from prominent players such as Coinbase, a leading crypto exchange. Particularly intriguing are updates concerning Bitcoin and Ethereum, two significant assets in the digital currency market.
Based on the latest quarterly report covering the period from July through September, Bitcoin’s trading activity on Coinbase experienced a rise of approximately 2-37%, whereas Ethereum’s trading volume remained constant at 15%. Additionally, the trading volume for the USDT stablecoin saw an increase of 5% to reach 15%.
The funding for all this came primarily from a drop in the trading volume of other cryptocurrencies, which naturally decreased from 40% to 33%. This reduction resulted in a total trading volume of $185 billion on Coinbase, with a significant majority (81.62%) being handled by institutional clients.
Regarding transaction-based income, Bitcoin held its dominance yet again. Over a three-month period from the end of Q2, Bitcoin’s share of total revenue expanded from 31% to 35%. Unfortunately, Ethereum didn’t enjoy the same growth and saw its share decrease to 16%, marking a 1% reduction compared to the previous quarter.
It’s worth noting that Solana, a prominent player in this cycle, also managed to grow by 1%. Meanwhile, Coinbase recorded a transaction revenue of approximately $572.5 billion during the last quarter, marking a decrease of 26.68% compared to the previous quarter.
In essence, Bitcoin remains a topic of interest among the public, whereas Ethereum, though facing skepticism regarding its legitimacy during this period, continues to be cherished by cryptocurrency enthusiasts.
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2024-10-31 12:05