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Coinbase transaction volume down 70%, signaling prolonged crypto winter
While Bitcoin price flourished this year, gaining 74% since January, the broad cryptocurrency market remains deteriorated compared to 2022. Coinbase published its second-quarter earnings on Thursday, revealing plunged volumes. The exchange had its consumer and institutional transaction volumes dipping by 70% and 54%, respectively, YoY during the quarter. Coinbase stated that decreased overall crypto market capitalization contributed to its unwelcoming numbers. tweet Crypto market cap hovered at $2.26 trillion on April 2022. Nonetheless, downside price actions in most digital tokens pinned the figure below $1 ... (full story)