Bitcoin
Coinbase Expands Revenue Streams as Crypto Trading Matures
Digital assets have had a significant year, with the market moving towards widespread adoption.
This change has resulted in a decrease in price volatility, which has been a key attraction for many investors, Bloomberg said. reported Thursday (May 30).
As a result, the largest crypto exchange in the US, Coin basehas suffered a decline in consumer turnover and a potential shift in its revenue sources, according to the report.
Volatility in the digital asset market has decreased significantly in recent times. According to the researcher CCDatathe average volatility of digital assets fell to 57% this year, compared to around 79% in 2021, the report states.
This decrease in volatility is seen as a sign of market maturation, as it attracts fewer speculative traders, according to the report.
Coinbase, like other exchanges, relies on trading fee revenue generated from cryptocurrency trading volume. However, declining volatility has resulted in lower trading volumes, impacting exchanges’ revenues, according to the report.
Coinbase’s consumer trading volume in the first quarter of this year was $56 billion, compared to a peak of $177 billion in the fourth quarter of 2021. Spot creation Bitcoin exchange-traded funds (ETFs) and the general maturation of the market contributed to this decline in trading volume.
To mitigate the impact of decreasing revenue from trading fees, exchanges like Coinbase have diversified their Revenue Sources, the report said. Coinbase generated about a third of its sales in the first quarter of this year from sources other than trading fees. These sources include revenue share from the USDC stablecoin and revenue from its Base blockchain.
The company also serves as the custodian of most U.S. spot Bitcoin ETFs and is listed as a custodian of spot ETFs Ether ETFs which are expected to be approved by regulators, according to the report.
Although Coinbase’s trading fee revenue is expected to be lower than its 2021 peak, the company’s overall outlook remains positive, according to the report.
Net profit is expected to increase 20 times this year compared to 2023. The sustainability of the current bull market and Coinbase’s ability to maintain spot market share will be crucial factors in determining its future revenues. Additionally, Coinbase’s diversification efforts and its role as an ETF custodian position the company for potential long-term revenue growth.
See more at: Bitcoin, coin base, Crypto Exchange, crypto trading, cryptocurrency, digital assets, ETFs, Investments, News, PYMNTS News, What’s new
Bitcoin has lost out on an asset rally fueled by positive comments from the Federal Reserve, while a tight US election race casts doubt on whether Donald Trump will get the chance to implement his pro-crypto agenda.
The digital asset fell 2.4% on Wednesday, following a Fed-fueled surge in an index of megacap tech stocks Magnificent Seven by one of the largest margins in 2024. The token retreated further on Thursday, changing hands at $63,750 as of 6:10 a.m. in London.
Bitcoin
‘This is huge’ — Billionaire Mark Cuban issues ‘incredible’ Bitcoin and crypto prediction amid price slump
Bitcoin
Bitcoin
came back with a vengeance this year when former President Donald Trump Cryptocurrency boosts US presidential election in November with ‘revolutionary’ plan.
The price of bitcoin has surged to more than its all-time high in recent months, surpassing $70,000 per bitcoin and triggering a wave of mega-optimistic predictions about the price of bitcointhough it fell again this week, falling below $65,000 after the Federal Reserve kept interest rates steady.
Now, as Elon Musk suddenly breaks his silence on bitcoin and cryptocurrenciesBillionaire investor Mark Cuban called a California plan to digitize 42 million car titles using blockchain an “incredible step forward” and “huge” for cryptocurrencies.
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Mark Cuban, famous Shark Tank investor and billionaire owner of the NBA team Dallas Mavericks, has… [+] called a cryptocurrency update “amazing” amid bitcoin’s price slump.
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The California Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain, it was reported by Reuters, through technology company Oxhead Alpha on the Avalanche blockchain and designed to detect fraud and facilitate the securities transfer process.
“This is an incredible development for crypto,” Cuban, best known as an investor on TV’s Shark Tank and owner of the Dallas Mavericks NBA team, posted on X, joking that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler could sue the state as part of his hostility toward cryptocurrencies and blockchain technology.
“The reason this is huge for crypto is because people who hold the tokens will have an app with an Avalanche wallet,” Cuban said. “Tens of millions of Californians having and using a crypto wallet in the next five years, or however long it takes, normalizes the use of wallets and crypto.”
John Wu, president of Avalanche developer Ava Labs, told Reuters that California’s DMV is “creating a wallet that you can download on your phone.”
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Bitcoin’s price has rallied this year, triggering a wave of bullish bitcoin price predictions from… [+] people like billionaire Mark Cuban.
Forbes Digital Assets
Last month, Cuban predicted that if the US dollar falls as the global reserve currency, bitcoin could become “a global ‘safe haven’” and a “global currency.” potentially sending the price of bitcoin to a much higher level.
According to Cuban, bitcoin could become what its most ardent supporters “envision” — a means “of protecting our economies… This is already happening in countries facing hyperinflation.”
The price of bitcoin has skyrocketed over the past year, largely due to the world’s largest asset manager, BlackRock, leading a bitcoin attack on Wall Street.
Bitcoin
Bitcoin (BTC) miner Riot Platforms (RIOT)’s second-quarter loss widens to $84.4 million as costs rise
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At a national bitcoin conference in Nashville, Donald Trump finally laid out some of his crypto policy proposals, including a long-awaited part of his plan — building a strategic bitcoin reserve. CNN’s Jon Sarlin explains what it is and why the crypto industry wants it.
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