Benzinga – The cryptocurrency market has taken a more mature turn, with price swings becoming less erratic. This shift is poised to significantly impact the revenue of major exchanges like Coinbase Global Inc. (NASDAQ:COIN).
What Happened: Despite a surge in digital asset activity, the crypto market has experienced a decrease in price fluctuations, a major draw for many investors. This shift is expected to significantly impact the primary revenue source of major exchanges like Coinbase, Bloomberg reported on Friday.
Despite exceeding first-quarter revenue and profit projections, Coinbase’s consumer trading volume was $56 billion, a significant drop from the $177 billion peak in the fourth quarter of 2021. The trading volume of Bitcoin (CRYPTO: BTC), which significantly contributes to Coinbase’s trading-fee revenue, has been subdued since the cryptocurrency’s all-time highs in March.
Alesia Haas, Coinbase’s…
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