Bitcoin
BTC$49 128.70

-7.55%

Ethereum
ETH$4 120.96

-1.29%

Binance Coin
BNB$562.73

-3.52%

Tether
USDT$1.001430

0.08%

Solana
SOL$198.10

-2.74%

Cardano
ADA$1.39

-8.63%

Riding Bitcoin Surge, Coinbase Active Users Grew by 117% in Q1 2021


07 Apr 2021

#Bitcoin

Cryptocurrency exchange Coinbase saw a whopping 117% quarter-over-quarter increase in monthly transacting users, the firm revealed Tuesday in its voluntary earnings report. All those users helped Coinbase rake in $1.8 billion over the quarter, driving a net income of approximately $730 million to $800 million, according to a new filing that comes ahead of the company’s Nasdaq listing next week.

All the numbers point to a business riding high as interest in cryptocurrency tracks upward with the price of bitcoin (BTC, -1.84%), ether (ETH, -1.92%) and other leading assets.

Active users on Coinbase jumped from 2.8 million in the fourth quarter of 2020 to 6.1 million in the first quarter of 2021. Verified users – or the total number of people with Coinbase accounts – increased from 43 million at the end of 2020 to 56 million at the end of Q1 2021. Trading volumes topped $335 billion in Q1. For all of 2020, trading volume was $193 billion. Total assets on Coinbase’s platform increased from $90 billion to $223 billion, nearly a 150% increase quarter-over-quarter. Showing how solidly Coinbase has cemented itself at the center of the current bull run, some $122 billion of those assets were from institutions.

On the retail side, the company will be adding more assets and giving people more access to decentralized finance (DeFi) applications, Coinbase CEO Brian Armstrong said during Tuesday’s earnings call. On the institutional side, the company will continue to build out its prime brokerage offering and use its Bison Trails acquisition to create what Armstrong called the “Amazon Web Services for crypto.”


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 72.8% 50 $49 128.70 -7.55% -10.26% $928 110 420 973 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82% 36 $4 120.96 -1.29% 0.92% $488 780 881 496 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 81.6% 32 $562.73 -3.52% -6.79% $93 864 649 605 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 91.6% 1 $1.001430 0.08% 0.06% $74 263 665 994 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 72% 62 $198.10 -2.74% 3.42% $60 546 003 381 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 66.8% 72 $1.39 -8.63% -9.93% $46 287 449 057 ADA 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 92.8% 2 $1.000097 -0.05% 0% $40 029 698 519 USDC 7 days price change
8 XRP (XRP) XRP XRP predictions 68.8% 66 $0.836385 -7.82% -11.54% $39 516 931 096 XRP 7 days price change
9 Terra (LUNA) LUNA Terra predictions 70.8% 62 $74.36 25.00% 66.02% $28 825 591 225 LUNA 7 days price change
10 Polkadot (DOT) DOT Polkadot predictions 63.2% 76 $28.96 -12.18% -17.48% $28 604 270 701 DOT 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 63.6% 73 $0.176449 -10.40% -13.54% $23 359 356 254 DOGE 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 66.4% 75 $90.68 -11.80% -18.97% $22 009 485 134 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 66% 76 $0.000036 -8.88% -7.14% $19 722 014 052 SHIB 7 days price change
14 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 62% 86 $0.600991 -3.69% -20.69% $15 182 834 806 CRO 7 days price change
15 Polygon (MATIC) MATIC Polygon predictions 69.6% 62 $1.97 -8.29% 22.24% $13 803 349 402 MATIC 7 days price change

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