Trading on Crypto Exchanges Fell for First Time in Seven Months [BNN Bloomberg (Canada)]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
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Source: BNN Bloomberg
Spot trading volume on so-called centralized exchanges such as Coinbase Global, Binance and Kraken tumbled 32.6% to $2 trillion last month, according to data from researcher CCData. Derivatives trading volume also declined for the first time in seven months, falling by 26.1% to $4.57 trillion. While trading volume skyrocketed earlier in the year on the introduction of US exchange-traded funds investing into Bitcoin, it slackened amid a tightening of financial conditions in the US, where the Federal Reserve faces the challenge of overcoming sticky inflation. The April 19 Bitcoin halving — when supply of new coins minted on the network dropped in half — was a catalyst for market excitement beforehand. “Consistent with patterns observed in the last two cycles, trading activity on centralized exchanges typically slows in the two months following the Bitcoin halving event,” said Jacob Joseph, a research analyst at CCData. “Moreover, the higher-than-anticipated CPI inflation data and t
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COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/20/24 - Form 144
- 5/20/24 - Form 144
- 5/20/24 - Form 144
- COIN's page on the SEC website