Coinbase discloses third quarter transaction data, Bitcoin transaction share rises to 37%

BlockBeats news, on November 1, according to the data in Coinbase's latest Q3 2024 shareholder letter:

Total trading volume was $18.5 billion, down 18% from Q2 (from $22.6 billion to $18.5 billion);

Institutional investors' trading volume was $15.1 billion, accounting for 81.6% of total trading volume, continuing to maintain a dominant position;

Retail investors' trading volume was $3.4 billion, accounting for 18.4%.

From the perspective of the structure of crypto asset transactions:

Bitcoin's trading share rose to 37%, up 2 percentage points from the previous month;

Ethereum remained at 15%;

USDT's trading share rebounded from 10% to 15%;

Other crypto assets' share fell to 33%.

In addition, Solana’s share of transaction revenue has reached 11%, showing that its importance as an emerging public chain is increasing. Although the overall transaction volume has decreased month-on-month, the increase in the share of Bitcoin transactions reflects that Bitcoin is still the main crypto asset favored by institutional investors after the approval of the ETF.