Coinbase reported trading volume of $ 335 billion in the first quarter

Coinbase reported trading volume of $ 335 billion in the first quarter
  • The popular crypto exchange Coinbase has had an extremely successful quarter, which is confirmed by several monitored indicators.

There has been a lot of excitement about Coinbase lately, but it’s no wonder, because in addition to successfully registering on the Nasdaq Global Select Market, the company’s results for the first quarter of 2021 are already known.

As part of these estimated results, we learned some important information:

  • The company registers 56 million verified users this quarter
  • 6.1 million users performed at least one transaction per month
  • There are $ 223 billion in assets on the exchange, representing 11.3% of the total market share of cryptocurrencies
  • The volume of trades reached $ 335 billion
  • In terms of company revenue, total revenue was approximately $ 1.8 billion and net income of approximately $ 730 million to $ 800 million

If these numbers don’t tell you much, the best indicator of the growth of this platform is the company’s net profit. Coinbase reported income of $ 322 million on revenue of $ 1.3 billion for the full year 2020, meaning it earned more in the first quarter of this year alone than in all last year.

Read also: Trading Coinbase stocks on Nasdaq Global Select Market is evidence of cryptocurrencies maturity

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