Coinbase’s Institutional Volume Surges Alongside Bitcoin’s Price
As Coinbase prepares to go public with a direct listing on the Nasdaq, the company has released its S-1 filing detailing just about every aspect of their business.
Along with surging users and crypto prices, Coinbase’s trading volume has also increased exponentially, with institutions leading the way.
This graphic looks at the return of rising institutional and retail trading volumes on Coinbase over the past two years alongside bitcoin’s price.
Coinbase’s Volume and Active Users are Rising
Crypto trading volume on Coinbase set record highs in Q4’2020 with $89B in volume, with institutions making up $57B. While recent institutional volume is more than five times Q1’2018 volume, retail trading volume is still below Q1’2018 levels despite bitcoin making new all-time highs.
Overall, trading volumes on Coinbase’s platform are far greater today than they were at the peak of the last bitcoin bull run. However, monthly transacting users on the exchange in Q4’2020 just barely surpassed the numbers of Q1’2018.
Coinbase’s Monthly Transacting Users per Quarter
|Date||Monthly Transacting Users (millions)|
Along with Coinbase’s volume figures showing a greater increase in institutional volume compared (Read more...)