Bitcoin
BTC$70 102.05

-0.94%

Ethereum
ETH$3 548.67

-1.04%

Tether
USDT$1.000161

0.06%

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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 75.6% 42 $70 102.05 -0.94% 8.41% $1 378 721 112 129 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 73.2% 50 $3 548.67 -1.04% 3.44% $426 091 134 629 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $1.000161 0.06% 0% $104 521 125 383 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 64.4% 81 $612.52 4.54% 7.46% $91 594 467 823 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 56.8% 88 $185.38 -0.40% 5.95% $82 385 078 775 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 84.8% 28 $0.623886 0.47% 0.09% $34 241 537 263 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 92.4% 2 $0.999936 -0.02% -0.01% $32 488 072 414 USDC 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 70% 66 $0.215569 0.30% 36.43% $30 969 443 243 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 68.8% 66 $0.647345 -0.43% 3.88% $23 035 130 789 ADA 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 61.6% 87 $53.64 -1.02% -2.10% $20 244 556 490 AVAX 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 56% 94 $0.000031 -4.23% 13.88% $18 256 409 592 SHIB 7 days price change
12 Toncoin (TON) TON Toncoin predictions 59.6% 87 $4.91 0.25% 11.99% $17 045 259 055 TON 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 73.6% 49 $9.48 -0.70% 4.30% $13 526 776 978 DOT 7 days price change
14 Bitcoin Cash (BCH) BCH Bitcoin Cash predictions 74% 57 $623.57 9.94% 53.19% $12 273 269 375 BCH 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 79.6% 42 $18.86 -3.55% 4.45% $11 075 390 725 LINK 7 days price change

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