“The Decline in Retail Trading Might Have Affected Other Exchanges Including Coinbase.”, – WRITE: www.coindesk.com
The MONT-OVER-MONTH DROP to $ 14.4 Billion Outpaced Declines in Equities and Options Trading, WHICH EACH FELL 1%. Even SO, The Figure Was More Than Double the Year-Earlier Level, The Company Said in a Press Release.
The Figure Shows Hows How Trading Droped Off As the Cryptocurrency Market Slid. Bitcoin (BTC) Lost About 15% of ITS VALUE LAST MONTH AND THE BROADER COINDESK 20 INDEX (CD20) Fell by BY AROUND 23%. Across Centralized Cryptocurrency Exchanges, Spot Trading Droped 19% to $ 2.3 Trillion In February Compared With January, Coindesk Data Shows.
Memocoin Activity Also Eased, With Leading Token Launchpad Pump.Fun Seeing Daily Token Launches Plunge to 24,000 from 62,000, Accounting To 10x Research.
The Slowdown in Cryptocurrency Trading Volumes Suggests Lower Retail Interest in the Space and Cold Have Implications for Other Exchanges Including Coinbase (Coin), Whim.
Shares of Robinhood, A Retail-Focused Trading Platform that Also Offers Equities, Have Droped 4% This Year. Coinbase, in Contrast, Has Fallen 15%, in Line with The Broader Crypto Market Retreat.
Coinbase Has, However, Been Expanding ITS Institutional Services and Blockchain Infrastructure Business, Which Could Help Offset Some of the Impact from Weaker Retail. The Company Recently AnnounCed the Introduction of 24/7 Bitcoin and Ether Futures Trading.
