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Coinbase is the largest US-based crypto exchange and the second-largest exchange in the world by trading volume.
In this report, you'll find visualized data on Coinbase's user base, trading volume, revenue and income.
Coinbase had 108 million users in 2022, up from 56 million people in 2021. This equates to 92.8% year-on-year growth.
The platform's user base is up over 100x in the past 9 years.
Coinbase's user base has grown steadily from Q1 2018 through Q3 2022.
One of the biggest jumps in quarterly growth was when Coinbase's user base expanded over 20% from Q1 2021 to Q2 2021.
A similar jump occurred when it expanded by 21.9% from Q3 2021 to Q4 2021.
The number of monthly transacting users (MTU) on Coinbase saw its biggest quarterly jump in the last 2 years from Q1 2021 to Q2 2021 when the number of MTUs increased by 25.9%.
The number of MTUs on the platform peaked in Q4 of 2021 and has been in decline since then.
More than half (53.34%) of Coinbase's website traffic comes from residents of the US.
UK residents are responsible for 7.82% of the traffic to Coinbase, while Indian residents comprise just over 5% of the traffic to the site.
Quarterly trading volume on Coinbase peaked in Q4 2021 at US$547 billion.
The second-highest peak in quarterly trading volume occurred in Q2 2021, when it hit US$462 billion.
Quarterly trading volume on Coinbase has been in decline since Q4 2021.
As trading volume on Coinbase increases so too does the number of assets left in the platform's custody, though, there isn't a direct correlation between the 2 metrics.
The largest differences between quarterly trading volume and the number of assets left in the custody of the platform occurred in Q2 2021 and Q4 2021.
While quarterly trading volume as a percentage of total trading volume for Bitcoin (BTC) has dropped from 50% to just over 30% since Q1 2020, quarterly trading volume for Ethereum (ETH) has risen from 16% to 33% in the same time frame.
Since Q3 2020, the quarterly trading volume as a percentage of total trading volume for the total of all cryptos traded on Coinbase aside from BTC and ETH has been larger than that of BTC or ETH.
Retail investments drive the majority of net revenue for Coinbase when compared with institutional investments. This dynamic was particularly amplified from Q4 2020 to Q1 2022.
Since Q1 2020, the highest amount of quarterly revenue that came from institutional investments was US$102 million in Q2 2021, while the highest amount of quarterly revenue from retail investment was US$2.18 billion in Q4 2021.
While net revenue for Coinbase was still in the green as of Q3 2022, net income for the company has been in the red since Q1 2022.
Net revenue has been consistently decreasing since Q4 2021, while net income began to decrease around the same time but has bounced back as of Q2 2022.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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