Coinbase out of the top 10 exchanges

Mizuho Securities USA has published shocking data confirming the deplorable state of the finances of the leading US cryptocurrency exchange.

The report says that Coinbase has dropped out of the top 10 exchanges, and now only ranks 14th. For comparison, in 2021, this exchange was in 4th place. The exchange's market share fell by almost 50%. In the 1st quarter, it occupied 5.3% of the market, in the 2nd quarter - 3.6%, and in the 3rd quarter this figure was at the level of 2.9%.

The stock exchange also failed in the stock market. Coinbase shares are down 80% from their previous highs. Losses in the first quarter amounted to $429.7 million, which hurt shareholders' pockets.

The reason lies in the high commissions operating on the platform. This is one of the main sources of income for Coinbase. It charges up to 4% from some traders.

According to this indicator, the company has many competitors. For example, Binance.US is offering zero fees on a recently introduced promotion.

And the commission on the FTX.US exchange is only 0.2%. These exchanges have other sources of income, so they can offer users more “tasty” commissions.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investing in it can lead to losses. Readers should do their own research before taking any action.

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