With the decline in trading, Coinbase sees the future in betting

bear market commits, the exchange Coin base records a decrease in trade on its platform. Her strategy : develop strike to booster his income.

After several announcements, including a partnership with BlackRock, the title of Coin base began to rise again. However, this positive trend came to a standstill after the publication of the quarterly accounts.

The stock exchange shows a turnover down by more than 60%. Investors therefore sell the security CORNER, which lost 10% after the results were announced. Its chief executive, Brian Armstrong, nevertheless wants to be confident.

Compensate for the decline in trade and investment

In a shaky cryptocurrency market, investors, both retail and institutional, are reducing theirs trading activity. In the 2nd quarter, the trading volume was dipped more than 50% over a year to $217 billion.

Investors tend to move from traders to hodlers,” Coinbase CFO Alesia Haas acknowledges.

The price drop encourages customers to retain their assets. In order to retain this clientele and also to win new customers, the challenge is therefore to develop services adapted to investors’ expectations. that strike is an answer.

As a reminder, staking consists of a token holder placing them in escrow by contributing to a PoS-type network to validate the blocks. In return, he receives an income.

Coin base has developed its significantly stack products, allowing its users to generate returns via Ethereum, Tezos, Cardano and Solana, among others. However, the exchange does not specify the amount of income from the stake.

Ethereum staking for institutions in August

These financial solutions are grouped into a broader category viz non-investment products. And according to Coinbase, these products reach 67% of its monthly users.

The crypto exchange also reports an increase in stake units in the second quarter compared to the first three months of 2022. With the upcoming merger of Ethereum, 2nd market capitalization, Coinbase can expect a further increase in this sector. .

“At the beginning of August, we started offering Ethereum staking for institutional clients for the first time,” the exchange points out in a letter to shareholders. However, his ambition does not stop there.

“We will continue in the future add more assets to effort for our retail and institutional customers,” adds Coinbase. In a report, JPMorgan predicted a increase in the betting marketwhich could reach $40 billion by 2025.

However, the US regulator is in the process of investigating the exchange’s practices, especially regarding token listing, but also strike.

Follow Corners.fr on TwitterLinkedin, Facebook Where Telegram so as not to miss anything.

Leave a Comment