Bitcoin, Ethereum account for this much of Coinbase’s assets: Financial results decoded
— Billion, Financial, Transaction, Ethereum, Revenue, Results, Bitcoin, Crypto, Market, Coinbases — 1 min read
The largest US cryptocurrency exchange company that helps one buy and ‘hodl’ cryptocurrencies such as Bitcoin, ETH, Litecoin among others got listed in April 2021 at a price of around $380. Today, the firm trades at around $57.40. The firm attributes that drop to a fall in the prices of crypto assets, but net inflows amounting to billions of dollars cushioned it from bigger losses. Despite declining transaction revenue, Coinbase is seeing continued growth in its user base and merchant adoption. This suggests that there is still strong demand for cryptocurrency payments and that the firm is well-positioned to capitalize on this demand. The new fee structure caused a significant decline in the institutional fee rate, but the firm continued to see strong demand Source