Coinbase’s weekly trading volume hits two-year high in Q4

According to Kaiko's analysis, Coinbase's weekly trading volume reached a two-year high in the fourth quarter, driven by the market recovery after the election. However, the return of retail investors remains weak, with retail trading accounting for only 18% compared to 40% in 2021. At the same time, Coinbase's Ethereum staking share has declined by 3.8% over the past six months, which may impact blockchain reward revenue. Additionally, Binance has become the world's largest USDC market, with a weekly trading volume of $24 billion in January, accounting for 49% of global USDC trading. In contrast, Bybit's dominance has declined from 38% in October to only 8% today, after deciding to phase out options and futures settled in USDC. Meanwhile, the market share of USDT-related trading pairs has decreased from 77% in 2023 to 63% in 2024, indicating intensified stablecoin competition. In the Altcoin market, although market sentiment has improved, liquidity remains highly concentrated in the top 10 tokens, accounting for 64% of the total market depth.