The latest data reveals that Bitcoin and cryptocurrency exchange Coinbase is outperforming the Nasdaq in terms of revenue in 2024. According to figures uploaded by Jamie Coutts, chief crypto analyst at investment firm Real Vision, on December 17th, Coinbase’s 12-month exchange revenue has reached a staggering $6 billion.
Wild Data: Crypto Trading Explosion in Q4
The fourth quarter of the year has witnessed a remarkable transformation in the crypto markets, with the sector vying for supremacy alongside Wall Street. Coinbase, in particular, stands out as one of the top-performing exchanges globally. Its revenue currently ranks fifth in the world, exceeding that of both Nasdaq and CBOE.
Coinbase Revenue: A Surprising Leader
As per the data confirmed by Coutts, Coinbase has generated an impressive $5.75 billion over the past 12 months. This figure surpasses the combined revenue of the decentralized exchange (DEX) sector, which is expanding rapidly. The DEX sector currently accounts for 11% of global exchange revenue, more than double that of major cryptocurrencies like Bitcoin and Ether.
A New Era for Crypto: Competition from TradFi
The traditional finance sector is expected to pose stiff competition in the coming year, while DeFi protocols may outperform the returns of major cryptocurrencies. Coutts notes that "the comparisons aren’t perfectly like-for-like (ie Fees = Revenues), but the point is this sector has been beaten down by regulatory neglect and/or punishment and is primed for a re-rating higher."
Coinbase Stock: Doubling in Value
The recent surge in Coinbase’s stock price has seen it double over the past three months, making it one of the few assets to top Bitcoin’s gains. According to data from Cointelegraph Markets Pro and TradingView, this remarkable performance is a testament to the growing interest and confidence in cryptocurrency.
US Bitcoin ETFs: Outpacing Gold
The incoming Trump administration has expressed support for crypto, with President-elect Donald Trump reiterating his desire not to cede ground to countries like China on the issue. Subsequent reports of a strategic Bitcoin reserve have caused renewed buzz over the weekend. Institutional interest in BTC continues, with net inflows of more than $600 million to the US spot Bitcoin exchange-traded funds (ETFs) recorded on December 16th.
A New Era for Cryptocurrency
The remarkable growth and performance of Coinbase, combined with the increasing institutional interest in crypto, marks a new era for cryptocurrency. As the sector continues to expand and mature, it is essential to stay informed and adapt to changing market conditions.
Key Takeaways
- Coinbase’s 12-month exchange revenue has reached $6 billion.
- The company’s revenue currently ranks fifth globally.
- Coinbase outperforms both Nasdaq and CBOE in terms of revenue.
- DeFi protocols may outperform the returns of major cryptocurrencies like Bitcoin and Ether.
- Institutional interest in BTC continues, with net inflows to US spot Bitcoin ETFs exceeding $600 million.
Disclaimer
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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