Coinbase International: Weekly Trading Volume Surges to Over $119 Billion
Last week, Coinbase International experienced a significant surge in trading volume, reaching over $119 billion in total. This impressive figure translates to an average of nearly $20 billion traded per day. Notably, this weekly total represents a staggering 124% increase from the previous week’s total, with the daily average also showing a substantial uptick of 164% compared to the week prior.
The impressive growth of Coinbase International can be attributed to a series of strategic expansion initiatives that the platform has implemented in recent months. One key move was the platform’s expansion into the European market, where Coinbase took proactive steps to align with the EU’s MiCA regulations. This strategic alignment has not only increased Coinbase’s presence in Europe but has also bolstered its credibility and compliance within the region.
In addition to its European expansion, Coinbase International also made significant inroads into the Australian market. By doubling the platform’s maximum leverage from 10x to 20x, Coinbase has positioned itself as a more attractive option for Australian traders seeking higher leverage opportunities. This move has helped Coinbase gain a stronger foothold in the Australian cryptocurrency market and attract a broader range of traders.
Furthermore, Coinbase International further solidified its position in the market by launching spot markets in late 2023. This expansion has allowed Coinbase to offer a wider range of trading options to its users, catering to both experienced traders and newcomers alike. By diversifying its offerings and enhancing its trading capabilities, Coinbase has successfully increased its appeal and competitiveness in the cryptocurrency space.
Overall, the recent surge in trading volume and growth of Coinbase International underscore the platform’s continued success and momentum in the cryptocurrency market. With a strategic focus on expansion, compliance, and product diversification, Coinbase has positioned itself as a leading player in the industry, attracting a growing number of traders and investors worldwide.