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Coinbase Trading Volume Plunges 52% to $76 Billion, Marks Lowest Quarter After Public Listing

Coinbase, the largest cryptocurrency exchange by volume in the United States, recorded a significant decline in spot trading volumes as the crypto bear season drags on. On Oct 11 Bloomberg reported that the low figures posted by the popular exchange in the last quarter could be its lowest in the last two years citing analytics from CCData. The new figure places the exchange at its lowest level since its Nasdaq listing in 2021 signaling reduced appetite of investors in crypto trading after over a year of chaotic market policies and crashing prices. Despite reduced activities, Coinbase shares have skyrocketed over 100% to $75 after a turbulent 2022 which saw its price drop by 86%.

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