n a recent report by Kaiko, it was revealed that the coinbase exchange is losing significantly In terms of market share. Data shows a drop from 53% to 41% in a few months.
Rise of Smaller Exchanges
Smaller exchanges are now taking the lead, for example: Bullish, a crypto exchange that focuses especially on institutional clients and investors has currently become the winner in this area. With its market share rising from 17% to 33% since Coinbase’s decline.
Top 3 Exchanges Consolidate
Although many other exchanges are challenging Coinbase’s market share, The crypto market as a whole is still dominated by 3 US Crypto exchanges which hold approximately 88% of the market share.
Coinbase's Stock Performance
Although Coinbases’s market share has gone down, Coinbase’s stock has slightly risen in the recent past. Barclays, a UK based bank, recently boosted the stock rating due to product enhancement and favorable economic conditions. However, there are still more regulatory issues that are still prevalent.
Crypto Exchanges: Power Shift Unfolds
A Shift in Crypto Exchange Competition Though Coinbase is experiencing more competition, the general trend is the concentration of market power by the leading exchanges. As the regulatory environment changes and institutional interest increases, new dynamics of the US crypto exchange market are observed.
