Recently, #Coinbase's Q3 financial report was released. Although the data is average, one thing is explosive: #SOL's share of trading revenue on #Coinbase reached 11%, up 1% from Q2. Meanwhile, ETH dropped from 17% in Q2 to 16% in Q3! Can you handle that? ETH is a crypto project backed by an ETF!
You need to know one thing: Coinbase is basically the playground for institutional players. Q3 data shows that Coinbase's institutional investor trading volume was $15.1 billion, accounting for 81.6% of total trading volume, maintaining dominance! This indicates that U.S. institutions are optimistic about #SOL! You know what I mean!
Holding #SOL during this period won half the battle, while engaging with the #SOL ecosystem and MEME won the other half!
Other data from Coinbase:
- In terms of crypto asset trading structure:
Bitcoin's trading share rose to 37%, an increase of 2 percentage points quarter-over-quarter.
Ethereum remained at 15%.
USDT's trading share rebounded from 10% to 15%.
Other crypto assets' share decreased to 33%.
- Trading volume data:
Total trading volume was $18.5 billion, down 18% from Q2 (from $22.6 billion to $18.5 billion).
Institutional investor trading volume was $15.1 billion, accounting for 81.6% of total trading volume, continuing to maintain dominance.
Retail investor trading volume was $3.4 billion, accounting for 18.4%.
- Cathie Wood's fund heavily invested in Coinbase in Q3.
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