Coinbase’s International Marketplace Sees Strong Trading Volumes
Coinbase, the cryptocurrency exchange that recently entered the offshore crypto derivatives market, has already seen impressive trading volumes. In just one week, the exchange recorded nearly $900 million in trading volumes, with daily volumes reaching around $100 million. Despite being a relatively new player in the derivatives market, Coinbase’s two available contracts have received a positive market reception.
According to sources at Coinbase, the firm plans to introduce new features and products in the coming months to further expand its market share. However, despite its strong performance, Coinbase still lags behind Binance, which remains the leader in derivatives trading with $444 billion traded this month.
Key Points:
- Coinbase’s offshore crypto derivatives market has achieved daily trading volumes of around $100 million.
- In just one week, the exchange recorded nearly $900 million in trading volumes.
- Coinbase plans to introduce new features and products to further expand its market share.
- Binance is currently the leader in derivatives trading, with $444 billion traded this month.
Hot Take: Despite facing legal challenges from the US Securities and Exchange Commission, Coinbase has managed to make a strong entry into the offshore crypto derivatives market. With its growing trading volumes and plans for expansion, Coinbase is positioning itself as a major player in the industry. However, it still has a long way to go to catch up to Binance’s dominance in the derivatives market.
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