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Coinbase Rakes In $1.9B in Transaction Revenue in Q2, Beating Estimates
The largest cryptocurrency exchange in the U.S. warned, however, that its number of monthly transacting users and trading volume would be lower in the third quarter.
Coinbase posted $1.9 billion in transaction revenue in the second quarter, in its second-ever earnings report as a public company. Analysts had estimated the exchange would post $1.57 billion in transaction revenue.
The U.S.’ largest cryptocurrency exchange grew to 8.8 million monthly transacting users (MTUs) and 68 million total users in the quarter, versus analyst estimates for 6.7 million monthly users and 62.8 million total users. The exchange’s take rate – or retail trading revenue divided by retail trading volumes – was 1.24%, up from 1.21% last quarter.
The company did note that MTUs in July had declined significantly to 6.3 million and trading volume was only $57 billion in the month. While August’s numbers were slightly higher than this, Coinbase warned that MTUs and trading volume would be lower in Q3 compared to Q2.
The exchange also slightly lowered its yearly forecast range for active users, a key metric, from a range of 5.5 million to 9 million by the end of the year, to a range of 5.5 million to 8 million.
https://www.coindesk.com/coinbase-r...n-transaction-revenue-in-q2-beating-estimates
The largest cryptocurrency exchange in the U.S. warned, however, that its number of monthly transacting users and trading volume would be lower in the third quarter.
Coinbase posted $1.9 billion in transaction revenue in the second quarter, in its second-ever earnings report as a public company. Analysts had estimated the exchange would post $1.57 billion in transaction revenue.
The U.S.’ largest cryptocurrency exchange grew to 8.8 million monthly transacting users (MTUs) and 68 million total users in the quarter, versus analyst estimates for 6.7 million monthly users and 62.8 million total users. The exchange’s take rate – or retail trading revenue divided by retail trading volumes – was 1.24%, up from 1.21% last quarter.
The company did note that MTUs in July had declined significantly to 6.3 million and trading volume was only $57 billion in the month. While August’s numbers were slightly higher than this, Coinbase warned that MTUs and trading volume would be lower in Q3 compared to Q2.
The exchange also slightly lowered its yearly forecast range for active users, a key metric, from a range of 5.5 million to 9 million by the end of the year, to a range of 5.5 million to 8 million.
https://www.coindesk.com/coinbase-r...n-transaction-revenue-in-q2-beating-estimates
