Research: Coinbase U.S. Dollar Volume Hits One-Year Low in Third Quarter of 2018

Published at: Oct. 9, 2018

In the third quarter of 2018, San Francisco-based cryptocurrency exchange Coinbase’s U.S. dollar volumes hit a 1-year low, according to a recent analysis of Diar published October 8.

According to the diagram below, in the third quarter of 2018 the U.S. dollar volumes on Coinbase dropped to the lowest level during the past year. Compared to the same period last year, the trading volume of Bitcoin (BTC) is currently slightly higher, around $5.4 billion versus compared to $4.6 billion in 2017. The trading volume of Ethereum (ETH) and Litecoin (LTC) represents the greatest slump.

Source: Diar

Performance of another major crypto exchange, Bitstamp, is somewhat better. The trading volume of BTC is around $4.4 billion, while in the same period last year it was at around $4.6 billion. ETH trading volume has risen twice and is currently $669.1 million compared to $322.8 million in September last year. The most significant drop of the year is represented by LTC, with a current volume of $113.4 million against $266.2 million last year.

Source: Diar

While trading volumes may be low on the exchange, Coinbase has been actively diversifying and expanding its services. Last month, the exchange rolled out a new update called “Coinbase Bundles,” which is designed to simplify cryptocurrency trading. The Bundle consists of five cryptocurrencies supported on Coinbase: BTC, ETH, LTC, Bitcoin Cash (BCH), and Ethereum Classic (ETC).

Coinbase also announced a new process that will allow it to list more digital assets faster. However, the process refers only to digital assets that are compliant with local law, which means that certain assets listed on the platform may only be available to customers in particular jurisdictions.

Last week, Cointelegraph reported that Coinbase is reportedly finishing negotiations that would value the company at $8 billion. Coinbase is purportedly in talks with Tiger Global and its shareholders regarding a possible $500 million investment. The sources reportedly said that Coinbase would add $250 million to its treasury, while another $250 million could be slated for buying out existing investors.

Tags
Altcoin
Cryptocurrency Exchange
Cryptocurrencies
Coinbase
Bitstamp
Related Posts
Nasdaq Adds Brave New Coin’s XRP Index to Global Data Service
The world’s largest stock exchange, Nasdaq, announced that it has introduced XRP Liquid Index (XRRLX), a new XRP index, to its global data service. The news was announced in a post on its website published on April 29. Per the announcement, the development is part of Nasdaq’s data dissemination partnership with cryptocurrency analytics company Brave New Coin. The company will reportedly send its real-time XRP index level information on the Nasdaq Global Index Data Service SM (GIDS). In a separate announcement, Brave New Coin noted: “The XRPLX sources data from only the most liquid exchanges by volume and order-book depth …
Altcoin / April 30, 2019
Coinbase Looks to Add Support for Telegram and 16 Other Digital Assets
San Francisco-based crypto exchange and wallet provider Coinbase has announced the support for Telegram and 16 additional digital assets. Coinbase adds support for 17 digital assets On Sept. 19, cryptocurrency exchange Coinbase announced that it is considering the addition of a range of new assets; namely, Avalanche, Celo, Chia, Coda, Dfinity, Filecoin, Handshake, Kadena, Mobilecoin, NEAR, Nervos, Oasis, Orchid, Polkadot, Solana, Spacemesh, and Telegram. Coinbase added that it intends to explore assets that have not yet launched and which Coinbase may choose to support in the future. Telegram, for example, recently released its Telegram Open Network (TON) testnet explorer and …
Altcoin / Sept. 19, 2019
Coinbase Now Supports Cryptocurrency Token EOS
Major United States-based cryptocurrency exchange and wallet service Coinbase has added support for EOS, according to a press release on May 30. The new addition is reportedly available for trading and storage in most areas covered by Coinbase, with the exception of the United Kingdom and New York at press time. The announcement also notes that there are no transaction fees associated with EOS; the cost is instead paid in computing resources, such as a tax on RAM, CPUs, or network bandwidth. Users that run the network also earn EOS by contributing to the computational power needed to run transactions. …
Decentralization / May 30, 2019
Coinbase and Circle Launch USDC Stablecoin With Purported Full Backing in US Dollars
Major U.S. cryptocurrency exchange Coinbase has launched the USD Coin stablecoin (USDC), making it the first stablecoin for trade on the platform, Cointelegraph learned at the Money 20/20 conference Oct. 23. The underlying technology behind USDC was developed collaboratively between Coinbase and blockchain-powered payments technology company Circle. Coinbase customers in supported jurisdictions can now purchase, sell, send, and receive USDC at coinbase.com and the exchange’s iOS and Android apps. Coinbase notes in the statement that its U.S.-based customers outside the state of New York are able to buy and sell, while customers around the world can send and receive the …
Altcoin / Oct. 24, 2018
Coinbase Introduces ‘Coinbase Bundle’ Designed to Simplify Crypto Trading
Cryptocurrency exchange and wallet service Coinbase has rolled out a new update called “Coinbase Bundles,” which is designed to simplify cryptocurrency trading, according to an announcement published September 27. Coinbase Bundles is a basket of five cryptocurrencies supported on Coinbase and purchased in proportion to their market capitalization in U.S. dollars. The Bundle consists of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ethereum Classic (ETC); the smallest Bundle costs $25, £25, or €25. While Coinbase has not set up a maximum purchase size for a Bundle, the exchange limits daily purchase amounts on a per-customer basis. Once …
Trading / Sept. 27, 2018