TechFlow news, November 1 — According to the latest Q3 2024 shareholder letter released by Coinbase, the following data was revealed:
• Total trading volume reached $185 billion, down 18% from Q2 (decreasing from $226 billion to $185 billion)
• Institutional investor trading volume amounted to $151 billion, representing 81.6% of total volume and maintaining its dominant position
• Retail investor trading volume stood at $34 billion, accounting for 18.4%
In terms of crypto asset trading composition:
• Bitcoin’s share rose to 37%, up two percentage points from the previous quarter
• Ethereum remained steady at 15%
• USDT’s trading share rebounded from 10% to 15%
• Other crypto assets declined to 33%
Notably, Solana’s share in trading revenue has reached 11%, reflecting its growing importance as an emerging public blockchain. Despite the overall decline in trading volume quarter-on-quarter, the rise in Bitcoin’s trading share highlights that Bitcoin remains the primary preferred crypto asset among institutional investors following ETF approvals.
