Trading volumes on major centralized exchanges, including Coinbase, have been significantly impacted by the current bear market in the crypto industry. The slump in trading volume is expected to have a negative impact on Coinbase’s profits, especially considering the high transaction fees charged by the platform. According to data compiled by researcher CCData, Coinbase’s spot trading volume in the third quarter is likely to have dropped by more than half compared to the same period last year. The reported trading volume of $76 billion is the lowest since before Coinbase went public in April 2021. This decline in volume is concerning for Coinbase, considering that transaction revenue accounted for 54% of its total revenue in the second quarter. Analysts are predicting that Coinbase will post a seventh consecutive quarterly loss and expect its revenue to be 10% below forecasts. Regulatory pressure in the United States, combined with the prolonged bear market, has contributed to the decline in Coinbase’s trading volumes.
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Coinbase Trading Volume Slides as Crypto Bear Market Deepens
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