Exchanges

Analysis: A majority of Coinbase’s volume is still dominated by four assets, despite the exchange adding over a dozen new tokens

Quick Take

  • Coinbase has recently announced that it plans to list “at least 90% of the aggregate market cap of all digital assets in circulation”
  • In this piece, The Block examines Coinbase’s volumes and the impact of its recent token listings
  • We found that despite a wave of new asset listings, four assets (bitcoin, ether, litecoin, and bitcoin cash) still dominate over 90% of all trading volume on Coinbase

Coinbase’s strategy to list as many assets on its platform has been ambitious. Recently, the San Francisco-based exchange announced that it aims to list “at least 90% of the aggregate market cap of all digital assets in circulation,” for its users.

The firm’s strategy shift has been reportedly directed by Balaji Srinivasan, who, up until May of this year, was brought on to Coinbase as its CTO.