Coinbase Reports a 29% Decline in Crypto Trading Volumes during Q3
- The exchange generated $1.2 billion in net revenues during the third quarter.
The Nasdaq-listed digital exchange, Coinbase released its financial metrics for the third quarter of 2021 yesterday. The company’s overall crypto trading volume dropped sharply during Q3 as the number touched $327 billion.
In Q3 of 2021, the net revenues of Coinbase reached $1.2 billion. The figure includes $1.1 billion in transaction revenue and $145 million in subscription revenue. In addition, Net income and adjusted EBITDA came in at $406 million and $618 million, respectively.
Coinbase saw growth in the total number of users during the latest quarter. The verified users at the crypto Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term reached 73 million. Moreover, the Monthly Transacting Users (MTUs) touched 7.4 million in the third quarter.
“While we entered Q3 with softer crypto market conditions, driven by low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and declining crypto asset prices, market conditions improved meaningfully later in the quarter which we have continued to see into early Q4. This backdrop led to global crypto spot trading volumes declining 37% in Q3 as compared to Q2, however, Coinbase outperformed the market with total trading volumes of $327 billion, a 29% decline in the same period,” Coinbase highlighted.
COIN Stock
Earlier this year, Coinbase made its debut on Nasdaq with the listing of COIN stock. The crypto exchange saw a surge in demand for COIN stock in the first few days. Although, the price decreased gradually between July and October. The current price of COIN stock stands at around $358. Following the latest Q3 report from the crypto exchange, COIN stock has decreased as much as 15% in after-hours trading.
“We are in the early stages of the development of the crypto economy and are focused on investing for long-term growth. As our year-to-date results have clearly demonstrated, our business is volatile. Coinbase is not a quarter-to-quarter investment, but rather a long-term investment in the growth of the crypto economy and our ability to serve users through our products and services. We encourage our investors to take this point of view,” Coinbase added.
The Nasdaq-listed digital exchange, Coinbase released its financial metrics for the third quarter of 2021 yesterday. The company’s overall crypto trading volume dropped sharply during Q3 as the number touched $327 billion.
In Q3 of 2021, the net revenues of Coinbase reached $1.2 billion. The figure includes $1.1 billion in transaction revenue and $145 million in subscription revenue. In addition, Net income and adjusted EBITDA came in at $406 million and $618 million, respectively.
Coinbase saw growth in the total number of users during the latest quarter. The verified users at the crypto Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term reached 73 million. Moreover, the Monthly Transacting Users (MTUs) touched 7.4 million in the third quarter.
“While we entered Q3 with softer crypto market conditions, driven by low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and declining crypto asset prices, market conditions improved meaningfully later in the quarter which we have continued to see into early Q4. This backdrop led to global crypto spot trading volumes declining 37% in Q3 as compared to Q2, however, Coinbase outperformed the market with total trading volumes of $327 billion, a 29% decline in the same period,” Coinbase highlighted.
COIN Stock
Earlier this year, Coinbase made its debut on Nasdaq with the listing of COIN stock. The crypto exchange saw a surge in demand for COIN stock in the first few days. Although, the price decreased gradually between July and October. The current price of COIN stock stands at around $358. Following the latest Q3 report from the crypto exchange, COIN stock has decreased as much as 15% in after-hours trading.
“We are in the early stages of the development of the crypto economy and are focused on investing for long-term growth. As our year-to-date results have clearly demonstrated, our business is volatile. Coinbase is not a quarter-to-quarter investment, but rather a long-term investment in the growth of the crypto economy and our ability to serve users through our products and services. We encourage our investors to take this point of view,” Coinbase added.