Coinbase Q3 revenue surges 37% as Ethereum trading share climbs, reversing last quarter’s slump
Coinbase reported a 37% surge in Q3 transaction revenue, driven by increased Ethereum trading volume, reversing the previous quarter's decline.Summary
Coinbase Global reported strong Q3 results, with transaction revenues hitting $1 billion, a 37% increase from the prior quarter and nearly double the previous year's figure. Trading volumes also rose to $295 billion. This performance reversed the declines seen in Q2. The growth was significantly fueled by Ethereum (ETH), whose trading accounted for 22% of total volume (up from 15% in Q2) and 17% of transaction revenue (up from 12%). While Bitcoin still dominated, its relative share decreased as Ethereum gained ground. Overall total revenue reached $1.9 billion, and the company posted a net income of $433 million. Coinbase CEO Brian Armstrong confirmed the company continues to accumulate Bitcoin, adding $299 million worth during the quarter.
(Source：The Block)