Coinbase Statistics: 2023 Market Share, Profit Breakdown, & More

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Looking at some key Coinbase statistics illustrate the exchange’s meteoric rise. As of 2023, the company boasts a valuation of around $18.6 billion and an enterprise value of approximately $16.5 billion. The user base paints an equally remarkable picture. To date, over 89 million users have signed up for Coinbase. A testament to the popularity of the exchange is the fact that 9 million traders used its platform in the last quarter alone. Revenue and profit numbers tell a success story, too. In 2021, Coinbase raked in $7.8 billion in total revenue while clearing $3.6 billion in net profit. For Q1 2022, revenue stood at $1.17 billion.

With its iron grip on 43% of the US crypto market share, Coinbase has become a major force in the industry. This article features some vital information about Coinbase’s business valuation. These include its user base, net worth, revenue, profit, market share, growth, and other helpful information. Let’s get started.

Key Coinbase User Statistics

1. Coinbase Global Inc. had 56 million verified users in August 2023 and could reach 150 million verified users before the end of 2023.
2. Every month, about 6.1 million users at Coinbase execute at least one transaction.
3. The crypto exchange has a total valuation of $18 billion in 2022.
4. Coinbase generated a revenue of $3.1 billion in 2022.
5. It recorded an annual loss of $2.6 billion in 2022.
6. Coinbase holds 11.3% of the entire crypto market capitalization.
7. Coinbase Global has over 3,400 employees.
8. It recorded about 9 million active users who performed more than one transaction in a month in 2022.
9. An average of the total number of Coinbase users have crypto assets that are worth more than $5,000.
10. The company gets 86% of its total generated revenue from transaction fees.

Coinbase Overview

The table below gives an overview of the crypto exchange:

The Number of Users at Coinbase Global

1. Coinbase user base depreciated in 2023, reflecting a decline of 20% from the exchange number of users in 2022.

Coinbase Monthly Active Users

2. The crypto company has 6.1 million users who perform at least one monthly transaction.

3. Coinbase has recorded steady growth in its monthly active users since it started operating in the crypto industry. Between 2020 and 2021, the company witnessed significant growth, from 2.8 million to 8.8 million.

4. In 2022, Coinbase had 9 million month active users, a slight increase from the value it recorded in 2021.

5. The growth could be due to the public’s growing adoption of crypto assets, Coinbase’s effective marketing plans, etc. Notably, the monthly active users execute at least one transaction per month in the exchange.

Coinbase Global Inc. Yearly Revenue from 2019 to 2023

6. The table below shows Coinbase’s Net Revenue from the 1st quarter of 2019 to the 2nd quarter of 2023.

7. Coinbase recorded a net revenue of $482.9 million in 2019. In 2020, its net income rose to 1.1 billion.

8. Notably, in 2021, the crypto exchange witnessed a 564% growth in revenue as it generated $7.3 billion. 

9. However, in 2022, the company’s net revenue dropped to $3.1 billion, resulting in a loss of approximately 58%.

10. Between the 1st and 2nd quarters of 2023, Coinbase Global generated a net revenue of $1.4 billion.

Coinbase Global Inc. Transaction Revenue

11. According to research, the crypto exchange company generates 86% of its total revenue from transaction fees.

12. Notably, between 2019 and 2020, Coinbase generated $463 million and $1.1 billion, respectively, from transaction fees.

13. The increment in 2020 represents a 2.37 times growth against the value of 2019.

14. Studies reveal that the worth of cryptocurrency is directly proportional to the transaction revenue crypto firms generate.

15. In the 2nd quarter of 2021, the company recorded $1.9 billion in transaction revenue. 

16. This also influenced the value of the firm’s stock, making it yield 50% profit to its stockholders above expectations.

17. Analysts expected the Coinbase stock to make about $2.33 a profit per stock, but it surpassed the prediction, giving a $3.45 profit per stock.

18. Even though Bitcoin’s market value dropped significantly in this period, Coinbase was still able to attain this transaction revenue milestone.

19. The growth in the transaction revenue marked the second-highest the company ever recorded.

20. Moreover, in the 1st quarter of 2021, Coinbase Global recorded $122 billion from institutional customers.

Coinbase Global Service and Subscription Revenue

21. Remarkably, in the second quarter of 2023, the largest crypto exchange in the US realized more revenues from subscriptions and services. This time, it exceeded the transaction revenue generated in the same period.

22. One of its subscription offers, referred to as Coinbase Pro, is reported to be appealing to severe traders. The reason could be its transaction fees, which are between $0% and 0.5% per transaction.

23. Coinbase Prime is another exciting service the company offers users, allowing them to manage their crypto holdings efficiently.

Coinbase Yearly Profit and Loss

24. Coinbase recorded a loss of -$97.41 million in the second quarter of 2023.

25. However, the crypto firm’s net profit of 91.09% is higher than the value in the second quarter of 2022. The table below shows Coinbase’s Profit and Loss from 2017 to the 2nd of 2023:

Coinbase Global Inc. Users

26. The crypto exchange company maintained a progressive number of users until 2023 when the value dropped in the 3rd quarter.

27. During this period, Coinbase users dropped from 98 million recorded in 2022 to 56 million. However, analysts projected that the firm could record 150 million users before the end of 2023.

Coinbase Global Inc. Valuation

A business valuation is a metric that determines a company’s worth. We can calculate it by subtracting the value of a company’s liabilities from the fair values of its entire assets.

28. Interestingly, Coinbase Global Inc. has recorded a progressive valuation between 2017 and 2021, with enormous growth between 2020 and 2021.

29. Based on this growth, the company’s shareholders must have made a tremendous return on investment.

30. However, in 2022, the US largest crypto firm had a fall in its valuation, marking a decline of 72% from its 2021 value. The table below shows Coinbase’s Valuation from 2017 to 2022

The Worth of Crypto Assets Coinbase Global Manages

31. Research shows that the worth of crypto assets under Coinbase care increased progressively yearly until 2022, when it dropped.

32. It recorded the highest in 2021, managing $223 billion worth of crypto assets against $36 billion in 2020.

33. However, in 2022, the quantity of managed assets dropped to $80 billion following the persistent bearish market last year. Notably, the worth of these managed assets depends on the crypto market’s price fluctuations.

34. The more crypto deposits enter the exchange, the more the managed assets are worth.

What Crypto Assets Does Coinbase Support?

35. In 2023, Coinbase Global supports over 10,000 cryptocurrencies and multiple blockchains.

36. With this, investors can buy and sell various crypto assets like Bitcoin, Cardano, Litecoin, Ether, Bitcoin Cash, and many more. 

37. The exchange supports all ERC-20-based tokens and allows crypto-to-crypto conversions through the Ethereum network. This table shows the breakdown of the assets Coinbase supports from 2019 to 2023.

The Most Held Crypto Assets on Coinbase Global Inc.

38. In most cases, Bitcoin remains the dominating crypto asset in the industry, followed by Ethereum.

39. The most held crypto assets on Coinbase include Bitcoin and Ethereum, representing 83% of the entire cryptos on Coinbase.

40. Litecoin, which has lower transaction fees and a faster transaction rate, is considered the third-most-held cryptocurrency in Coinbase.

41. Litecoin has an 84 million maximum supply with a current circulating supply of over 73.7 million in the crypto market.

42. Ripple’s native coin, XRP, is regarded as the fourth most-held crypto asset following its application in the real world.

43. Ripple allows lower rates on currency exchange in real time.

44. Another interesting help crypto on Coinbase is Zcash. Its blockchain allows anonymous transactions and lacks a public ledger.

The Most Traded Cryptocurrencies on Coinbase Global Inc.

45. In 2019, Bitcoin made 58% of the total trading volume on Coinbase Global.

46. But in 2020, this value dropped as the company recorded 41% of its total trading volume from Bitcoin.

47. Statistics revealed that  NuCypher, a token belonging to an Ethereum-based network, is the next most traded on the Coinbase platform. This could be due to the price of acquiring the token and its role in decentralized finance (DeFi).

48. In 2020, a single unit of NuCypher traded at $2, affordable for investors to purchase with the hope of making huge returns owing to its potential. Moreover, after NuCypher, Ethereum is the third most traded asset on Coinbase.

Crypto Market Capitalization Share for Coinbase Global

49. Coinbase Global share in the general crypto market cap has increased since 2018.

50. In 2018, it had a share of 4.5% of the entire crypto market cap and rose to 8.3% in 2019.

51. Most of the market share comes from Bitcoin and Ethereum.

52. Between 2020 and 2021, the firm held an 11.1% and 11.3% share of the global market cap, respectively. This feat was possible through the help of 50 popular crypto assets managed by Coinbase Global Inc. The table below shows Coinbase’s share in the general crypto market cap from 2018 to 2021.

Coinbase Global Total Transaction Volume

53. The crypto firm recorded fluctuations in its total Transaction volume each year. 2021 had the most significant value, the highest the company recorded between 2017 and 2022. The table below shows Coinbase’s Yearly transaction volume from 2017 to 2022 in billions of US Dollars.

Retail Trading Volume on Coinbase Global

54. In the fourth quarter of 2020, Coinbase recorded a share of 35.95% of the entire trading volume on the exchange. This occurred as it processed trades worth $32 billion during that period.

55. Between 2018 and 2020, Coinbase witnessed the highest retail trading volume in the 1st quarter of 2018.

56. During this time, it recorded $45 billion, which resulted in 80.36% of the crypto firm’s trading volume. Furthermore, the retail trading volume grew by 2.15 times the value Coinbase recorded in 2019.

57. In 2023, Coinbase Global Inc. has over 3,400 employees who work synergistically toward the company’s success.

58. Coinbase has 20 work categories listed on its official website when there is a vacancy. These categories include Marketing, design, recruiting, product development, HR, finance, legal, engineering, etc.

Institutional Trading Volume on Coinbase Global

59. Coinbase has steadily grown institutional customers between 2019 and 2021. This cut across corporations, financial institutions, and hedge funds.

60. In 2019, the company had 4,200 institutional customers; in 2020, it saw a 66% increment as it recorded 7,000.

61. Coinbase had over 2,000 new institutional customers added to its platform in 2021, as it recorded over 9,000 such customers. The table below summarises Coinbase Global institutional customers from 2019 to 2021:

62. Remarkably, between the 1st quarter of 2018 and 2021, the share of the total trade volume recorded from institutional customers has tripled.

63. In that period, it only had a 19.67% share, but the value in the later times represented a 3.26 times increase.

64. in the fourth quarter of 2020, Coinbase realized $57 billion in trading volume from its institutional customers, accounting for a 64.05% share of the company’s total trades.

65. This amounted to an extra $65 billion added to the value it processed in the last quarter of 2020. The table below showcases trading volume from institutional customers on Coinbase from 2018 to 2021.

Conclusion

Coinbase Global Inc. has thrived since it launched in 2012 with encouraging business valuations before it faced challenges from the US SEC. It has garnered the interest of investors, giving it an impressive number of verified users, making Coinbase the largest crypto exchange by trading volume in the United States. As of August 2023, it recorded 56 active users and could have more before the end of the year. Data suggests that Coinbase will continue to expand in number of users and revenue in the coming years. 

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