The -34 plunge in retail transaction revenue in the face of 51 retail user growth, raises a red flag. In a “low” scenario, the exchange would average 4 million if the market turns into something like the 2018 bear market. Coinbase reported a surprise loss in Q1 2022. In a “mid” scenario, the exchange would average 5.5 million monthly users if the market capitalization is flat. In a “high” performance scenario, Coinbase would average 7 million monthly users if the crypto market capitalization grows throughout the rest of the year. The exchange also gave three financial scenarios for the rest of 2021. Related: Riot Blockchain Signs Contract to Purchase 42,000 Mining Machines From Bitmain On the institutional side, the company will continue to build out its prime brokerage offering and use its Bison Trails acquisition to create what Armstrong called the “Amazon Web Services for crypto.” Coinbase made 133.688 million from the sale of crypto assets in 2020.
On the retail side, the company will be adding more assets and giving people more access to decentralized finance (DeFi) applications, Coinbase CEO Brian Armstrong said during Tuesday’s earnings call. Coinbase statistics breaking down the company's annual revenue from sources besides transactions and services. Showing how solidly Coinbase has cemented itself at the center of the current bull run, some $122 billion of those assets were from institutions. Total assets on Coinbase’s platform increased from $90 billion to $223 billion, nearly a 150% increase quarter-over-quarter. For all of 2020, trading volume was $193 billion. Trading volumes topped $335 billion in Q1. Verified users – or the total number of people with Coinbase accounts – increased from 43 million at the end of 2020 to 56 million at the end of Q1 2021. Verified coinbase users increased 5500 from 2014 to 2021, or from 1M users to 56M users. In 2021, 10.89 of Coinbase’s verified users are active transacting users, up from 8 in 2020, 3.33 in 2019, and only 3.18 in 2018. Cryptocurrency exchange Coinbase saw a whopping 117% quarter-over-quarter increase in monthly transacting users, the firm revealed Tuesday in its voluntary earnings report.Īll those users helped Coinbase rake in $1.8 billion over the quarter, driving a net income of approximately $730 million to $800 million, according to a new filing that comes ahead of the company’s Nasdaq listing next week.Īll the numbers point to a business riding high as interest in cryptocurrency tracks upward with the price of bitcoin, ether and other leading assets.Īctive users on Coinbase jumped from 2.8 million in the fourth quarter of 2020 to 6.1 million in the first quarter of 2021. The Coinbase platform has 68M verified users and 8.8M active transacting users as of this writing.
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