Trading volume increased by more than 67% sequentially over the three-month period ended December 31, 2021, driven by higher levels of volatility, the
Trading volume increased by more than 67% sequentially over the three-month period ended December 31, 2021, driven by higher levels of volatility, the company said
Coinbase Global Inc (NASDAQ:COIN), one of the largest cryptocurrency exchanges globally, saw a surge in trading volumes during 4Q 2021 to $547 million compared to the previous quarter.
Trading volume increased by over 67% sequentially over the three-month period ended December 31, 2021, driven by higher levels of volatility, the company said.
Retail trading accounted for 32% of volume, while crypto assets made up 68%.
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During 4Q, the group generated $2.5 billion of net revenue, $840 million of net income, and $1.2 billion of Adjusted EBITDA. It ended the year with 11.4 million monthly transacting users, with 32% both invested and engaged with a non-investing product, according to the company.
Coinbase also told investors that it sees “strong consumer interest in a wider variety of crypto assets,” but warned that it expects growth to slow in the coming quarter.
The group said it believes that retail monthly transacting users and total trading volume will both be lower in the current quarter as compared with the final quarter of 2021.
“We enter 2022 with even more unknowns which make our business all the more difficult to forecast,” the firm told shareholders in a statement.
“On one hand, in addition to the unpredictability of crypto asset prices and volatility, we also face global macroeconomic headwinds, rising interest rates, inflation, and more recently, geopolitical instability. On the other hand, global crypto adoption is accelerating and diversifying. We are seeing new and exciting use cases for crypto and more market participants helping grow the global cryptoeconomy,” the company added.
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