Coinbase’s (COIN) spot trading volume down 52% in Q3
<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Coinbases-COIN-spot-trading-volume-down-52-in-Q3-5319478536iStock-1569755914-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Coinbases-COIN-spot-trading-volume-down-52-in-Q3-5319478536iStock-1569755914-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Coinbases-COIN-spot-trading-volume-down-52-in-Q3-5319478536iStock-1569755914-700×467.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Coinbases-COIN-spot-trading-volume-down-52-in-Q3-5319478536iStock-1569755914-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Coinbases-COIN-spot-trading-volume-down-52-in-Q3-5319478536iStock-1569755914-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Coinbases-COIN-spot-trading-volume-down-52-in-Q3-5319478536iStock-1569755914-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Coinbases-COIN-spot-trading-volume-down-52-in-Q3-5319478536iStock-1569755914-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Coinbases-COIN-spot-trading-volume-down-52-in-Q3-5319478536iStock-1569755914.jpg 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p><span data-contrast="auto"><a href="https://www.leaprate.com/breaking/coinbase-gets-bermuda-monetary-authority-green-light/" target="_blank" rel="noopener">Coinbase’s</a> volume has been on a steady decline since Q4 2021, a boom year for the industry. It closed that year with more than $400bn in volume. The broader cryptocurrency market has contracted during the last 18 months, making it more difficult for exchanges to drive growth. However, Coinbase did gain market share in Q3 as its rivals faced regulatory headwinds. </span><span data-ccp-props="{"201341983":0,"335559740":276}"> </span></p>
<p><span data-ccp-props="{"201341983":0,"335559740":276}"> </span><span data-contrast="auto">Binance’s struggles with stricter legislation surrounding the advertising of crypto in certain regions have severely affected its performance. New data shows that its spot market share slumped for the seventh month in a row in September. That volume has been hoovered up by competitors including DigiFinex and Bybit.</span></p>
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<p><span data-ccp-props="{"201341983":0,"335559740":276}"> </span><span data-contrast="auto">While crypto volumes are lower in 2023, there has been a silver lining for many exchanges; rising website traffic. Bitmart is among those that have registered a jump in traffic levels for the year-to-date. HTX (formerly Huobi) has been another big winner with a 200% increase. </span><span data-ccp-props="{"201341983":0,"335559740":276}"> </span></p>
<p><span data-ccp-props="{"201341983":0,"335559740":276}"> </span><span data-contrast="auto">That’s not a feather in Coinbase’s cap though as it has also seen a drop off in traffic in recent months. Overall, it’s a far cry from the day when Coinbase traded on the Nasdaq for the first time in April 2021, and bitcoin (BTC) hit an all-time high of $64,000.</span><span data-ccp-props="{"201341983":0,"335559740":276}"> </span></p>
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<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/coinbases-coin-spot-trading-volume-down-52-in-q3/">Coinbase’s (COIN) spot trading volume down 52% in Q3</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>
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