Coinbase has established itself as a leading platform in the cryptocurrency exchange industry, providing users with a secure and intuitive way to buy, sell, and store digital assets. This analysis presents key statistics and trends related to Coinbase's growth, financial performance, and market position.
Key Coinbase Statistics and Metrics
Coinbase has demonstrated remarkable growth in user adoption, revenue generation, and market valuation. Below are some of the most significant figures that highlight its trajectory.
- Total Verified Users: 73 million as of 2021.
- Monthly Active Users (2021): 8.8 million.
- 2021 Revenue: $4.03 billion.
- 2021 Profit: $2.36 billion.
- Company Valuation (2021): $65 billion.
- Market Share of Crypto Capitalization: 11.3%.
- Assets Under Management (2021): $223 billion.
- Number of Employees: Over 2,100.
Detailed User Growth and Engagement
Coinbase's user base has expanded rapidly since its inception, reflecting increasing public interest in cryptocurrency.
Historical User Growth
| Year | Total Users |
|---|---|
| 2014 | 1 million |
| 2015 | 2 million |
| 2016 | 5 million |
| 2017 | 13 million |
| 2018 | 22 million |
| 2019 | 30 million |
| 2020 | 35 million |
| 2021 | 73 million |
The number of users conducting at least one transaction monthly reached 6.1 million. Monthly Active Users (MAUs) have seen particularly strong growth, tripling from 2020 to 2021.
Monthly Active Users (MAUs)
| Year | MAUs |
|---|---|
| 2018 | 0.7 million |
| 2019 | 1 million |
| 2020 | 2.8 million |
| 2021 | 8.8 million |
Financial Performance: Revenue and Profitability
Coinbase's financial results underscore its position as a highly profitable enterprise within the crypto sector.
Annual Revenue
| Year | Revenue |
|---|---|
| 2016 | $16 million |
| 2017 | $927 million |
| 2018 | $520 million |
| 2019 | $483 million |
| 2020 | $1.14 billion |
| 2021 | $4.03 billion |
Transaction fees are the cornerstone of Coinbase's business model, constituting approximately 86% of its total revenue. Subscription and services revenue, while smaller, has also seen growth, exceeding $100 million in 2021.
The platform's profitability has been volatile but strongly positive in recent years. After reporting losses in 2018 and 2019, Coinbase rebounded with a $322 million profit in 2020 and a massive $2.36 billion in the first half of 2021 alone.
Valuation and Market Capitalization
Coinbase's valuation has skyrocketed, fueled by its successful direct listing on the NASDAQ in April 2021. The company's worth has grown from $1.6 billion in 2017 to $65 billion by the end of 2021.
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Assets and Supported Currencies
The total value of assets held on the Coinbase platform has seen exponential growth, reaching $223 billion in 2021.
The platform supports a wide array of cryptocurrencies, increasing from 40 assets in December 2019 to 108 by December 2021. This diversity allows users to trade major coins like Bitcoin and Ethereum alongside many other altcoins.
Distribution of Assets on Platform
| Asset | Share of Assets |
|---|---|
| Bitcoin | 70% |
| Ethereum | 13% |
| Other Crypto Assets | 13% |
| Fiat Currency | 4% |
Bitcoin remains the most traded currency on the platform, representing 41% of the total trading volume in 2020, followed by Ethereum at 15%.
Trading Volumes: Institutional vs. Retail
Coinbase caters to both retail investors and institutional clients. Institutional trading volume has grown significantly, accounting for 64% of the total trading volume in Q4 2020. The number of institutional customers has climbed from 4,200 in 2019 to over 8,000 in 2021.
Retail trading volume also remains substantial, processing $32 billion in Q4 2020. The first quarter of 2021 saw a dramatic surge in retail activity, with volume reaching $120 billion.
Frequently Asked Questions
How many countries support Coinbase?
Coinbase's services are available to users in over 100 countries across six continents, making it one of the most globally accessible cryptocurrency exchanges.
What is the average amount of cryptocurrency a Coinbase user holds?
With $223 billion in assets under management spread across millions of users, the average holding is just over $5,000. However, this figure represents a mean average, and holdings are likely distributed across a wide spectrum.
How does Coinbase generate most of its revenue?
The vast majority of Coinbase's revenue—approximately 86%—comes from transaction fees charged when users buy, sell, or convert cryptocurrencies on its platform.
What are the most popular cryptocurrencies on Coinbase?
Bitcoin is the dominant asset on the platform, constituting 70% of all holdings. Ethereum is a distant second at 13%. Together, these two assets make up 83% of the platform's total assets.
Is Coinbase a publicly traded company?
Yes, Coinbase went public via a direct listing on the NASDAQ stock exchange on April 14, 2021, under the ticker symbol COIN.
What was Coinbase's peak trading volume?
The highest 24-hour trading volume recorded on Coinbase was on January 11, 2021, when over $9.5 billion worth of cryptocurrency was traded.