Cryptocurrency trading is on fire, and Coinbase is leading the charge, especially after the huge growth in market excitement following Donald Trump’s election victory.
It seems like the crypto world is leaving traditional financial markets in the dust!
Strong newby
Jamie Coutts, Chief Crypto Analyst at Real Vision pointed out that Coinbase has rocketed into the top five global exchanges by revenue, pulling in $5.75 billion over the past year.
And the big thing is that this figure even outshines some heavyweight traditional stock exchanges like Nasdaq and CBOE.
With 11% share of global exchange revenue, Coinbase is more than doubling the earnings of decentralized exchanges, and as the largest crypto exchange in the U.S., it continues to set the pace for the entire industry.
Emerging technology, exciting opportunities
While centralized exchanges like Coinbase dominate the scene, DEXs are also making nice numbers, now holding 5% market share and outperforming traditional platforms like HKEX and CBOE, so there is no reason to being shy.
Coutts told that both centralized and decentralized exchanges are expanding 2.5 to 4 times faster than traditional finance. This is quite clear sign of the growing adoption.
If we were to calculate the market capitalization of centralized exchanges using Coinbase’s price-to-sales ratio, it could soar to $749 billion, easily surpassing traditional finance’s $610 billion.
What’s next?
Looking towards 2025, Coutts predicts that competition will undoubtedly heat up as traditional finance starts integrating crypto-related activities.
He even suggests that DeFi platforms might eventually outshine top cryptocurrencies like Bitcoin and Ethereum because they can offer some seriously attractive returns.
