Originally published on: December 17, 2024
Cryptocurrency exchanges are giving traditional financial institutions a run for their money in 2024 as data reveals that Coinbase’s revenue beats Nasdaq. According to the latest figures released by Jamie Coutts, chief crypto analyst at Real Vision, Coinbase’s 12-month exchange revenue has surged close to $6 billion, surpassing even the established Nasdaq.
The cryptocurrency market’s Q4 surge has positioned the sector to compete with Wall Street in terms of performance for 2024. Coinbase, in particular, has emerged as a standout player with its exchange revenue ranking fifth globally. At $5.75 billion over the past year, Coinbase’s revenue has outpaced that of Nasdaq and CBOE, confirming its dominance in the market.
“This is wild,” Coutts exclaimed while presenting the data. Coinbase’s revenue accounts for 11% of global exchange revenue, surpassing even the combined decentralized exchange sector’s revenue growth. Despite facing regulatory challenges, the cryptocurrency sector is poised for significant growth and a re-rating higher, as Coutts indicated.
Looking ahead to 2025, traditional finance is expected to give crypto tough competition, while DeFi protocols could potentially outperform major cryptocurrencies like Bitcoin and Ether. Coinbase’s stock has doubled in value in the last three months, surpassing Bitcoin’s own gains, reflecting the growing interest and confidence in the cryptocurrency market.
As the industry continues to evolve, the incoming administration has shown support for cryptocurrencies, with promises of embracing the digital asset. Institutional interest in Bitcoin remains strong, with significant inflows to US spot Bitcoin ETFs in recent weeks, surpassing gold equivalents in terms of assets under management.
While every investment move carries risks, the cryptocurrency market is poised for further growth and innovation in the coming years. Stay ahead of the trends and explore more articles like this to make informed investment decisions. Subscribe to the Markets Outlook newsletter for critical insights on investment opportunities and trading strategies delivered weekly. Join the crypto revolution and be part of the future of finance.