Ethereum tops Bitcoin in trading volume for second quarter in a row By BTC Peers
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According to Coinbase’s earnings report for Q3 2021, has once again toppled in terms of trading volume for the second quarter straight.
The “Key Metrics” section of the report showing the company’s trading volume percentages revealed that Ethereum took 22% of the overall trading volume on the platform in Q3, while Bitcoin settled for only 19%. Restricted 59% of the crypto assets were other.
Coinbase’s retail trading volume was $93 Billion in Q3, a 36% drop from Q2. According to the report, this decline was correlated with the decline in spot and derivative market volume. The retail sector accounted 28% for the trading volume.
Coinbase maintains that trading volume has declined due to the lack of volatility on the market. It is important to recognize the role volatility plays in the distribution funds. This is because retail traders are primarily interested in short-term profits.
While Bitcoin currently ranks second in trading volume, Coinbase still has the first-place position in assets. Only 22% of the total funds are held in Ethereum, while 42% are in Bitcoin. It is because many trading pairs can only be traded with BTC.
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