Coinbase disclosed third-quarter trading data, with Bitcoin trading share rising to 37%

According to ChainCatcher's message, data from Coinbase's latest shareholder letter for the third quarter of 2024 shows:

• Total trading volume was $18.5 billion, a decrease of 18% from Q2 (down from $22.6 billion to $18.5 billion);
• Institutional investor trading volume was $15.1 billion, accounting for 81.6% of total trading volume, continuing to dominate;
• Retail investor trading volume was $3.4 billion, accounting for 18.4%.

From the perspective of cryptocurrency trading structure:

• Bitcoin's trading share rose to 37%, an increase of 2 percentage points;
• Ethereum remained at 15%;
• USDT trading share rebounded from 10% to 15%;
• Other cryptocurrencies accounted for 33%.

Additionally, Solana's share of trading revenue has reached 11%, indicating its growing importance as an emerging public chain. Although overall trading volume has decreased quarter-over-quarter, the increase in Bitcoin's trading share reflects that, following the approval of ETFs, Bitcoin remains the primary cryptocurrency favored by institutional investors.