Recently, Coinbase’s non-US exchange experienced an impressive milestone with over $1 billion in daily trading volume on Feb. 20. This achievement signifies a significant growth trajectory for the platform, especially in the realm of perpetual futures trading.
Coinbase International Exchange, as stated by CEO Brian Armstrong, reached the $1 billion daily volume mark for the first time, highlighting the platform’s rapid expansion. The continuous growth of the service is a testament to its increasing popularity and demand in the market.
Live data shows that as of 8:15 pm UTC, Coinbase International Exchange recorded $1.098 billion in 24-hour perpetual trading volume. This volume breakdown includes substantial figures for Ethereum (ETH), Bitcoin (BTC), and Solana (SOL), showcasing the diversity of assets traded on the platform.
In addition to perpetual trading, Coinbase International Exchange also operates a spot market with $12.4 million in 24-hour trading volume. The availability of Bitcoin and Ethereum for spot trading highlights the platform’s focus on liquidity and accessibility for traders.
Coinbase initially launched its international exchange with a focus on institutional perpetual trading in May 2023. Over time, the platform expanded its offerings to include spot trading in December, catering to a wider range of traders and investors in the market.
News of the rising trading volumes coincides with Coinbase’s commitment to regulatory compliance and transparency. The company recognizes the importance of establishing itself as a trusted and regulated service provider, especially in the crypto derivatives market that currently lacks comprehensive regulations.
As Coinbase continues to innovate and expand its offerings, the international exchange has the potential to become a prominent player in the global crypto trading landscape. With a focus on both institutional and retail traders, the platform aims to provide a secure and reliable trading environment for all participants.
The surge of trading volume on Coinbase’s international exchange underscores the platform’s growth and potential in the ever-evolving cryptocurrency market. As more traders and investors engage with the platform, Coinbase is poised to solidify its position as a leading exchange in the industry.
Leave a Reply