Markets
Coinbase (COIN) Trading Fees Under Pressure as Cryptomania Matures
It’s been a pivotal year for digital assets, but their move into the mainstream is making price swings less brutal, diminishing a key appeal for many investors and poised to upend the growth of the largest source of income for scholarships such as Coinbase Global Inc.
Despite better-than-expected first-quarter revenue and profit, trading volume at the largest U.S. cryptocurrency exchange rose to $56 billion, down from a peak of $177 billion in the fourth quarter of 2021 , at the height of the crypto’s previous bull run. Trading volume for Bitcoin – which fuels Coinbase’s trading fee revenue – has remained subdued since the world’s largest cryptocurrency hit all-time highs in March following the introduction of spot exchange-traded funds Bitcoin.