Report: Coinbase Trading Volume Hits 52-Week Low in Q3
The lingering crypto bear market has had a significant effect on the total trading volume found on major exchanges in 2018.
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3Q18: @coinbase Volumes Hit 1-Year Low, Ether Plummets on @binance https://t.co/mgTa3svusF
— Diar (@DiarNewsletter) October 8, 2018
Based on this data, the trading volume for the major coins listed on Coinbase, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) have all dropped off more than 50%. Notably, total USD volumes for BTC dropped from $24.3 billion in Q4 2017 to $5.4 billion in Q3 2018, a whopping 78% fall.
Despite the massive drop-off in trading volume, Coinbase is currently raising an investment round of up to $500 million at an $8 billion valuation, a significant bump from the $1.6 billion VC valuation made in the summer of 2017.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.