This is an interesting factoid.
FinancePR, a promotional firm in the financial services sector, has distributed a note stating that Coinbase (NASDAQ: COIN) dominates Bitcoin trading.
According to the missive, Coinbase took 53% market share of Bitcoin trading in the past 30 days or 520,000 BTC transactions.
So what about Binance? The largest crypto exchange in the world. Nowhere to be found, apparently (at least in the top 5).
The statement says that Coinbase is followed by:
- Bitfinex at a distant second with 155,000 BTC trades or 16%
- Kraken in 3rd at 148,000 BTC or 15%.
- Bitstamp in 4th at 90,900 BTC or 9.27%
- Gemini takes 5th at 37,800 BTC or 3.86%
Coinbase has always been sensitive to the need to be regulatory compliant. As the first publicly traded crypto exchange, Coinbase has benefited from its regulatory strategy along with its high profile in the US.
Currently, more than 73 million users trade on the Coinbase platform but it is important to note that Coinbase is not just about Bitcoin.
Coinbase is more about a digital platform enabling the future of finance. Beyond digital assets, including NFTs, staking, lending/credit etc., Coinbase plans to provide other ancillary or complementary services that make it more of a one-stop-shop for all of your financial needs – more of a neobank or the bank of the future.
