We are proud to be part of BitColors ecosystem, a unique collection of 1000 NFT colors that you can own and trade on OpenSea. BitColors aims to create something unique in the NFT space and set an example for a new wave of collections like CryptoPunks did for avatars. Colors for our logo we took from the BitColors collection. Ownership of colors should be remarkable and unprecedented and you have a chance to buy it now. Want to follow their updates? Then subscribe to BtColors Twitter, and Discord.
Coinbase Report:  Ethereum tops Bitcoin in trading volume for second quarter in a row
Crypto News

Coinbase Report: Ethereum tops Bitcoin in trading volume for second quarter in a row

Saudu Clement
Saudu Clement

According to Coinbase’s earnings report for Q3 2021, Ethereum has once again toppled Bitcoin in terms of trading volume for the second quarter straight.

The "Key Metrics" section of the report showing the company’s trading volume percentages revealed that Ethereum took 22% of the overall trading volume on the platform in Q3, while Bitcoin settled for only 19%. Other crypto assets made up the remaining 59%.

The retail trading volume on Coinbase in Q3 was $93 billion, a 36% decrease from the volume in Q2. This decline correlated with the overall volume decline on both derivatives and spot markets, according to the report. Meanwhile, retail accounted for 28% of the total trading volume.

Coinbase insists that the main reason behind the decline in trading volume is the minimized volatility in the market. The role of volatility in the distribution of funds cannot be underestimated, as retail traders are mostly in pursuit of short-term profits.

Although Bitcoin is currently in second place in terms of trading volume, it still holds first place in terms of assets held on Coinbase. 42% of all the funds on the platform are in Bitcoin, with only 22% in Ethereum. This is largely because most trading pairs are tied to BTC and cannot be traded without it.