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Home»EXCHANGE NEWS»Amid the market rebound, Coinbase revenue grew to $954 million in the fourth quarter.
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Amid the market rebound, Coinbase revenue grew to $954 million in the fourth quarter.

By Crypto FlexsFebruary 18, 20243 Mins Read
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Amid the market rebound, Coinbase revenue grew to 4 million in the fourth quarter.
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Coinbase reported a surge in revenue in the fourth quarter of the previous year, i.e. 2023. Sales soared to $954 million and trading volume peaked at $154 billion. This includes $125 billion in institutional size. The surge occurred amid a market rebound. Much of that is due to intense speculation about a Bitcoin ETF application being approved.

Trading revenue was $529 million, up 83% from the previous quarter. The increase in sales reflects a positive recovery of 41% quarter over quarter. Net income put Coinbase on a strong footing, making last quarter the first positive result in a series. The same figure came to $273 million.

Adjusted EBITDA was a 69% lead over the previous quarter, delivering a statistic worth $305 million. This number supplements earnings before interest, taxes, depreciation, and amortization. Positive EBITDA amounts to four consecutive installments in the quarter.

Customer and institutional trading volume increased 164% and 92%, respectively, reaching $29 billion and $125 billion, respectively. Again, compared to previous quarters. Stock price and subscription and service revenue rose slightly by 3.3% and 12%, respectively. The stock increase ends this Thursday.

Analysts predicted an increase in trading volume, with estimates supporting the assumption that cryptocurrency prices would surge in late 2023. Cryptocurrency exchange platforms have reflected this stance and are now poised to go from strength to strength in the future. Bitcoin is gaining popularity despite rebounding to values ​​below $52,000. As a more practical guideline, the margin of safety is $50,000 or $48,000.

The price continues to dance around the $52,000 level, staying consistent instead of going all the way down. Selling pressure on GBTC has cooled. The number has not become zero, but that convenience has brought convenience to the market.

Since Bitcoin’s performance is still closely tied to how Bitcoin moves on the graph, Bitcoin takes center stage whenever Coinbase hosts a discussion. Launched in 2012, Coinbase aimed to facilitate Bitcoin buying and selling activities without a gap for 10 years.

That could change now that Coinbase has expanded its horizons by partnering with Circle. Some notable numbers from Coinbase in the third quarter show that trading revenue hit $289 million, down 12% from the previous quarter. This did not hinder the positive approach of EBITDA, which achieved a value of $181 million for the third consecutive quarter.

Considering that Bitcoin is moving on a positive trajectory, the numbers coming up in 2024 could be better and more positive. Investors Are Exploring BTC Holdings, Coinbase movement A place for trading.

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