30s Summary

Crypto exchange Coinbase may surpass Nasdaq in revenue by 2024, according to data and analysis by investment firm Real Vision. The growth is largely due to changes in the crypto market, with Coinbase generating $5.75 billion over the past year, a figure exceeding Nasdaq and CBOE’s revenues. Coinbase currently holds 11% of global exchange revenue, twice that of the combined decentralized exchange sector. Meanwhile, there are rapid inflows into Bitcoin ETFs, even surpassing gold. Bitcoin ETFs have also experienced daily net positive inflows since the end of November 2024.

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Looks like Bitcoin and its cryptocurrency exchange, Coinbase, are giving the stock market a run for their money. They’re even surpassing Nasdaq in revenue for 2024, as the latest data shows us.

How about some specific figures? Recently, the chief crypto analyst at investment firm Real Vision, Jamie Coutts dropped some digits for us. These numbers showed that over the past year, 12-month exchange revenue came close to a whopping $6 billion.

So, what’s causing this? Well, the rest of 2024 saw some big changes in the crypto market. In fact, it’s starting to stand toe-to-toe with Wall Street when it comes to performance. Coinbase has become a heavy-hitter, with its exchange revenue ranking fifth globally.

As if that weren’t impressive enough, over the past 12 months, Coinbase has raked in $5.75 billion. That’s even more than both Nasdaq and CBOE. “This is wild,” said Coutts, before dropping an exciting line: “Crypto is eating TradFi’s lunch.”

So, where does this put Coinbase globally? Well, it’s responsible for 11% of the world’s exchange revenue. That’s more than twice the combined decentralized exchange (DEX) sector, which itself is expanding at a rapid pace.

“This sector is growing faster than traditional finances,” Coutts explains. Looking ahead to 2025, it’s expected that traditional finance sectors will provide some stiff competition. However, DeFi protocols might just surpass the returns of big cryptocurrencies like Bitcoin and Ether.

Let’s put it this way: despite the challenges and neglect the sector has faced, it’s ready for a surge. Already, Coinbase stock has doubled over the past three months, making it one of the only assets to surpass Bitcoin’s gains.

U.S. Bitcoin exchange-traded funds (ETFs) have also outshone gold. The crypto game is picking up steam with the incoming Trump administration demonstrating its support and acceptance of crypto.

Just last week, Trump voiced his intention not to lose ground to countries like China on crypto. Meanwhile, rumours about a Bitcoin strategic reserve stirred up some buzz.

Traditional institutions are also showing interest in Bitcoin, with net inflows of over $600 million for Bitcoin ETFs on December 16. Positive inflows also have been noted daily since the end of November, Farside Investors confirms.

Notably, Vetle Lunde from K33 Research reported that U.S. Bitcoin ETFs have even outranked the country’s gold equivalents in terms of assets under management.

All this shows how quickly and impressively the crypto market is evolving. However, always remember, every investment and trading move carries risk, so make sure to do your own research before making any decisions.