Coinbase Spot Trading Volume Drops 52% in Q3 as Crypto Market Slump Continues
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Coinbase's spot trading volume fell 52% in Q3 2023 compared to Q3 2022, down to around $76 billion.
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The drop highlights decreasing interest in crypto trading on the exchange.
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Despite the volume decline, Coinbase gained market share as Binance faced more regulatory scrutiny.
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While some exchanges saw drops, others like OKX, Huobi, and Gate.io saw web traffic increases.
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The lowering volumes come as the crypto market remains down from its highs in 2021.
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