Hold onto your wallets, folks! Digital asset sleuths at Coin Metrics are predicting that Coinbase is about to pull a rabbit out of its hat with a whopping $2 billion in revenue for Q4 2024! 🎩🐇
If they’re right (and let’s face it, they usually are), that’s a jaw-dropping 109% increase year-over-year and a 65% jump quarter-over-quarter! Talk about a financial rollercoaster! 🎢💸 Coinbase’s big reveal is set for Feb. 13, so mark your calendars and prepare for the popcorn! 🍿
According to the report, Coinbase’s trading volumes have skyrocketed to around $430 billion in Q4 2024, the highest since 2021! And what’s fueling this wild ride? A little thing called “renewed market optimism” after the U.S. elections. Who knew politics could be so profitable? 🤑
On Feb. 10, crypto detective Kaiko reported that Coinbase’s weekly trading volumes hit their highest levels in two years during this quarter. It’s like a crypto party, and everyone’s invited! 🎉
And let’s not forget the other big players in the crypto circus reporting earnings this week, including Bitcoin miners like Hive Digital and Hut 8, plus exchanges like CME Group and Robinhood. It’s a crypto showdown! 🤼♂️
Trading Resurgence
Crypto trading went through the roof after President Trump’s victory in November. He’s promised to make America “the world’s crypto capital.” Well, that’s one way to get the economy buzzing! 🇺🇸💥
On Nov. 5, Galaxy Digital had the biggest trading day of the year, all thanks to Trump’s win. It’s like a crypto Christmas came early! 🎄💰
Coinbase’s stock, COIN, has shot up about 40% since Trump’s big win. Who knew politics could be so lucrative? 📈
Other Revenue Sources
Meanwhile, the supply of the US dollar-pegged stablecoin USD Coin (USDC) on Coinbase has grown by about 23%. That’s like finding extra fries at the bottom of the bag! 🍟
This growth reflects increased on-chain activity and Coinbase’s clever marketing, including offering a sweet 4.5% interest on certain USDC holdings. It’s like a savings account, but cooler! 😎
According to a Dec. 26 Citi research report, the continued adoption of stablecoins and crypto ETFs will send digital asset performance soaring in 2025. Buckle up, it’s going to be a wild ride! 🚀
Coinbase is also raking in hundreds of millions each quarter from staking cryptocurrencies like Ether (ETH) and SOL (SOL). Staking is like putting your money in a piggy bank, but with a risk of losing it if the piggy misbehaves! 🐷💔
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2025-02-11 23:37