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Global cryptocurrency transaction volumes rise 32% in Q2

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Q2 2021 Highlights

  • UK daily transaction volumes rise 30% q-o-q to £468m (from £325m in Q1)
  • Global daily transaction volumes increased by 32%, with Asia leading the way (44% increase in volumes)
  • Continued interest in Ethereum, with average daily traded volume up 53% q-o-q
  • Ethereum’s daily traded volume was over 80% of Bitcoin’s daily traded volume in Q2, and represents 57% of Bitcoin’s daily traded volume over the past three quarters.
  • The price of Bitcoin and Ethereum reached new highs of $63k & $4.2k respectively in Q2, before dropping back to $31.7k and $1.9k today.*

Commenting on global cryptocurrency market trends in Q2, Marcus Hughes, Coinbase’s Managing Director for Europe said:

“We continue to see significant interest in a range of digital assets from both retail and institutional customers, with Ethereum continuing to grow in popularity and cementing its position as the second largest cryptocurrency by market capitalisation. Ethereum’s trading volume grew 53% from Q1 to Q2 while Bitcoin saw a 14% decline. This resulted in Ethereum volumes making up over 80% of the traded volumes of Bitcoin in Q2, a significant increase on last year and testament to increased interest in digital assets beyond Bitcoin

At Coinbase, our focus continues to be on education and product development around the broader applications within the cryptoeconomy, whilst leaning into regulation across a number of different countries to help build trust in this ecosystem. As testament to this, we were delighted to be awarded the first ever crypto licence in Germany by the BaFIN in June, and look forward to the opportunity to grow our customer offering there and across Europe.”

*BTC and ETH prices accurate as of July 16 2021 – 09:00

About Coinbase

Coinbase is building the cryptoeconomy — a more fair, accessible, efficient, and transparent financial system enabled by crypto. The company started in 2012 with the radical idea that anyone, anywhere, should be able to easily and securely send and receive Bitcoin. Today, we offer a trusted and easy-to-use platform for accessing the broader cryptoeconomy. Coinbase is listed on Nasdaq under the ticker symbol COIN. 

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