Coinbase Trading Volumes Soar in Q1; Analysts See Major Growth Potential in Ancillary Businesses

• Coinbase's trading volumes booming in Q1; JMP Securities sees big opportunity in exchange's ancillary businesses • JMP notes Coinbase's spot trading volume averaging $3.3B per day in Q1, more than double Q4 2021 • Sees growth in exchange business as market matures; derivative platform also scaling rapidly • Opportunity in tokenization of real-world assets, payments, Web3 development, staking • Estimates $25T of capital associated with traditional wealth management hasn't entered crypto market yet