This exorbitant growth – in addition to the extremely positive developments in the crypto sector – is primarily related to the fact that the number of users who transacted at least once a month increased enormously. While there were 2.8 million users at the end of 2020, this number has more than doubled to currently 6.1 million. Overall, the crypto exchange states that it has 56 million verified users. Due to this new flood of users, Coinbase was able to determine an increased trading volume. In the fourth quarter of last year it was still at 193.1 billion dollars, it increased in the following quarter to 335 billion dollars.
Experts expect valuation of 100 billion dollars
The first quarter of 2021 is therefore the most successful quarter in the company’s history, after all the vast majority of revenue comes from commissions. Additionally, in mid-March, Coinbase announced that the average price of its shares, which were sold in private transactions between January 1 and March 15, was $ 343.58. Using these numbers as a basis, the total valuation is $ 68 billion. Due to the brilliant quarterly figures, however, the evaluation should be even more positive. Meanwhile, experts do not rule out a market value of 100 billion dollars.
Rumors of resumption of XRP trading pairs at Coinbase
Meanwhile, rumors are currently circulating about Coinbase, the subject of the resumption of XRP trading pairs to have. Previously, like most of the larger US trading platforms, the US crypto exchange had suspended the sale of XRP. The reason for this is the ongoing legal disputes with the SEC, which Ripple accuses of selling an unregistered security with his coin. Judging by rumors, at least Coinbase should soon turn around. Because anyone who searches the Coinbase Pro API for “XRP” or “Ripple” will find what they are looking for. At least in the backend, the coin seems to have arrived again.
Author of the article is Daniel Hoppmann.