Coinbase Slips to 12th in Trading Volume as Futures Launch Boosts Market Activity

On July 22, 2025, Coinbase Global (COIN) experienced a 2.22% decline, marking its second consecutive day of losses, with a total decrease of 3.65% over the past two days. The trading volume for Coinbase on this day was $5.873 billion, ranking it 12th among all stocks traded on the market.

Coinbase has expanded its offerings to include perpetual futures for U.S. traders, a significant move that opens up access to one of the most traded derivatives globally. This development, effective from July 21, 2025, was previously hindered by regulatory barriers. The new service, regulated by the U.S. Commodity Futures Trading Commission (CFTC), allows American users to legally engage in perpetual futures contracts for the first time, providing a new investment avenue, especially for individual investors.

Additionally, the GENIUS Act, signed into law on July 18, 2025, is set to ease day-trading restrictions. This legislation is particularly impactful for stablecoins like USDC, which was co-founded by Coinbase. The act aims to create a more favorable regulatory environment for cryptocurrency trading, potentially boosting market activity and investor confidence in platforms like Coinbase.