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Trading activity on Coinbase International hits new heights with $6.23B record

TL;DR

  • Coinbase International Exchange’s daily trading volume has soared this month, with figures rarely dipping below $1 billion and reaching a peak of $6.23 billion.
  • The exchange, exclusive to non-U.S. customers, has seen its share price increase by over 10%, now exceeding $280.

March has witnessed a substantial surge in daily trading volumes on Coinbase International Exchange, with the figures only falling below the $1 billion mark on five occasions throughout the month. This trend marks a significant uptick compared to the exchange’s previous performance, culminating in a record-breaking daily trading volume of $6.23 billion last Wednesday. Exclusively available to non-U.S. customers in select jurisdictions, Coinbase International caters to institutional clients by offering access to over 30 perpetual futures and spot markets.

Coinbase International Daily Volume \ Source: The Block Data

A spokesperson for Coinbase attributed this growth to the market’s response to having a trusted and compliant international trading platform. The exchange’s positioning is aimed at capitalizing on this demand to fuel further expansion.

Rally in Coinbase share price

Alongside the spike in trading volumes, Coinbase has also seen a sharp increase in its share price, which rose by over 10% in the last 24 hours, reaching upwards of $280 per share, according to data from TradingView. This rally is in line with the overall cryptocurrency market’s performance, which has seen its market capitalization grow by over 61% since the start of the year. Notably, Coinbase’s shares have mirrored this market uptrend over the same timeframe.

While the current share price marks a positive trend, it still falls short of Coinbase’s all-time high of $342.98, recorded in November 2021. This increase in share price and trading volume on Coinbase International Exchange also showcases the growing activity and interest in the cryptocurrency market, as well as the exchange’s significant role in facilitating international trading for its clients.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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