Coinbase Q3 trading data: Institutional trading volume accounts for over 80%, while Bitcoin trading accounts for 37%

According to the latest shareholder letter released by Coinbase for the third quarter of 2024, the total trading volume was $185 billion, a decrease of 18% compared to Q2; Institutional investors maintained a dominant position with a trading volume of $151 billion, accounting for 81.6% of the total trading volume; The trading volume of retail investors was 34 billion US dollars, accounting for 18.4%. From the perspective of cryptocurrency trading structure, the share of Bitcoin transactions has risen to 37%, an increase of 2 percentage points compared to the previous period; Ethereum maintains a level of 15%; The proportion of USDT transactions has rebounded from 10% to 15%; The proportion of other encrypted assets has decreased to 33%; It is worth noting that Solana accounts for 11% of transaction revenue.