2023-01-27
Coinbase has been gaining more trust due to many turbulences in
cryptocurrency industry that happened in the past. This means that investors
are pouring more money to Coinbase. It went public in 2021. During Q1
2023 Coinbase trading volume increases 0.3%. Whereas, Binance decreases 6.2%,
Kraken decreases 13%, and Gemini decreases 46.3%.
From Blocksky’s analysis. Coinbase and other cryptocurrency exchanges
will see growth in trading volume for many years from now. The main reason is
that cryptocurrency will be capable to process transactions more than Visa.
Visa can process 65,000 transactions per second. Ethereum 2.0 has the potential
to process 100,000 transactions per second. The development in blockchain
technology can support cryptoeconomy that is getting bigger and bigger.
Trading volume of exchanges during Q1 of 2023.
Coinbase 0.3%
Kranken -13.0%
Gemini -46.3%
Bitfinex -25.5%
Binance -6.2%
Uniswap -53.9%
Uniswap V2 -33.0%
Uniswap V3 4.4%
The decline of cryptcurrency trading volume resulted from the collapse
of FTX. FTX collapse has an effect on Binance and Gemini the most.
About Coinbase
Coinbase is a cryptocurrency exchanges. Coinbase’s vision is to provides
gateway to cryptoeconomy. Coinbase provides cryptocurrency exchanges and
staking services.
