Coinbase’s quarterly trading volume surges 67% and reached $547 billion with the platform saying that it saw a huge surge in quarterly trading volumes in the quarter that ended on December 31 as we can see more today in our latest Coinbase news.
Coinbase said that the quarterly trading volume increased on a sequential basis as the volatility in prices drew in retail traders but warned there’s a slow down in growth in the current quarter. Coinbase’s quarterly trading volume increased while retail trading accounted for 32% of volumes and assets contributed 68% to total trade. According to the company’s statement:
“The sequential increase in retail Trading Volume was driven primarily by higher levels of volatility as well as strong consumer interest in a wider variety of crypto assets.”
The mainstream popularity and the adoption of crypto benefited crypto exchanges as the business worldwide were investing to ramp up their crypto infrastructure as per the data from Reuters. However, it added that BTC’s prices weakened in the past few months as the global central banks showed an end of the pandemic-era stimulus. The tensions between Ukraine and Russia affected BTC. The crypto market saw bearish sentiments right after Russia launched military operations against Ukraine a few days ago.
Coinbase said that it believes that the retail monthly transacting users and the total trading volume will be lower in the quarter compared to the final quarter of 2021. in one of the latest developments, coinbase announced it will start allowing users to buy NFTs with credit cards and debit cards after the new partnership with Mastercard. The report added that in order to simplfy the buying NFT experience, Coinbase will allow users to do so without having to own crypto and the company accumulated more than 2.5 million people on the waitlist for the new platform since it announced the plan last October.
As recently reported, The cryptocurrency exchange opted to use its 60-second window and display a QR Code which bounced around a black backdrop like an old DVD player screen saver. Scanning the QR code brought you to Coinbase’s site where the users got $15 in free BTC while existing users could sign up for the $3 million sweepstakes. Coinbase’s advertisement stood out from the typical productions like other companies including the one commercial by FTX starring Larry David.
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