{"id":174318,"date":"2023-10-15T01:15:53","date_gmt":"2023-10-14T19:45:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=174318"},"modified":"2023-10-15T01:15:53","modified_gmt":"2023-10-14T19:45:53","slug":"coinbase-trading-volume-hits-pre-ipo-levels-in-latest-quarter-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/coinbase-trading-volume-hits-pre-ipo-levels-in-latest-quarter-report-crypto-news\/","title":{"rendered":"Coinbase Trading Volume Hits Pre-IPO Levels in Latest Quarter: Report &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Coinbase \u2013 which happens to be the largest US crypto platform \u2013 registered nearly $76 billion in spot trading volume, according to a new Bloomberg report.<\/p>\n<p>This marks a 52% decrease compared to the same period last year, and it is likely the lowest figure recorded since well before the company\u2019s high-profile direct listing on the Nasdaq Stock Market in April 2021, which occurred just months before the peak in crypto prices.<\/p>\n<ul>\n<li>Trading volume serves as a vital metric for exchanges, and for Coinbase, the largest share of its revenue stems from trading fees.<\/li>\n<li>In the second quarter of the year, Coinbase reported that revenue generated from transactions made up 54% of its total revenue.<\/li>\n<li>This decline is part of a broader trend observed over a year in the digital asset industry, driven by a series of scandals, bankruptcies, and regulatory interventions.<\/li>\n<li>Oppenheimer &amp; Co. analyst Owen Lau <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/coinbase-s-quarterly-crypto-trading-volume-likely-lowest-since-before-public-debut-1.1983270\" data-wpel-link=\"external\">noted<\/a> that \u201coverall, it looks like a challenging quarter\u201d for Coinbase.<\/li>\n<li>The crypto exchange has been embroiled in a high-profile legal showdown with the SEC, with the financial regulator <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/sec-files-opposition-to-motion-to-dismiss-coinbase-suit-xrp-lawyer-ups-win-odds-to-50\/\" data-wpel-link=\"internal\">filing<\/a> a motion to oppose Coinbase\u2019s motion to dismiss the case.<\/li>\n<li>Despite the setbacks, Coinbase managed to expand its market presence in the previous quarter, notably as its rival Binance faced heightened regulatory scrutiny in the country as well.<\/li>\n<li>Earlier this month, the CZ-led crypto exchange\u2019s share of the spot market took a hit for the seventh consecutive month. This share appears to have been captured by its competitors, including Coinbase.<\/li>\n<\/ul>\n<div class=\"code-block code-block-12\" style=\"margin: 8px 0;clear: both\">\n<div><span style=\"font-size:11px;color: gray\">SPECIAL OFFER (Sponsored)<\/span><br \/>\n<b>Binance Free $100 (Exclusive): <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/binancebanner\" data-wpel-link=\"internal\">Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/buy-bitcoin-5-easy-steps\/\" data-wpel-link=\"internal\">terms<\/a>).<\/p>\n<p><b>PrimeXBT Special Offer: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/primexbt2\" data-wpel-link=\"internal\">Use this link<\/a> to register &amp; enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div>\n<\/div>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase \u2013 which happens to be the largest US crypto platform \u2013 registered nearly $76 billion in spot trading volume, according to a new Bloomberg report. This marks a 52% decrease compared to the same period last year, and it is likely the lowest figure recorded since well before the company\u2019s high-profile direct listing on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":26865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-174318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=174318"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174318\/revisions"}],"predecessor-version":[{"id":174320,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174318\/revisions\/174320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/26865"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=174318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=174318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=174318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}