Report: Coinbase's weekly trading volume hit a two-year high in Q4 last year, and its stock price has risen 40% since Trump's election

Odaily reported that according to Kaiko's report, Coinbase's weekly trading volume in Q4 2024 reached the highest level in two years. According to Google Finance data, Coinbase (COIN) stock price has risen about 40% since former President Trump won the US presidential election on November 5 last year. Researchers said that the increase in trading volume of the exchange was mainly due to institutions, as Coinbase continued to struggle with the sluggish activity of retail investors. The report pointed out that "retail traders - the group that pays the highest fees - have not made a big comeback, with their trading volume share shrinking from 40% in 2021 to just 18%." Researchers said that even as the exchange diversifies its revenue sources beyond trading, the lack of retail trading has weighed on Coinbase's revenue. In 2024, Coinbase significantly increased its subscription and service revenue, but Kaiko said the exchange "is still essentially a trading platform, with trading still accounting for more than 50% of revenue." Furthermore, "subscriptions and services are essentially tied to the underlying crypto market activity and do not provide diversification to mitigate market downturns and trading lulls." Several other major players in the cryptocurrency field also announced earnings the week of February 10, including Bitcoin miners Hive Digital and Hut 8, as well as exchanges CME Group and Robinhood. (Cointelegraph)