Coinbase Surges to 31st in Trading Volume Ranking with $1.44 Billion Day

On April 2, 2025, Coinbase Global (COIN) saw a significant increase in trading volume, reaching $1.44 billion, a 51.29% rise from the previous day. This surge placed Coinbase at the 31st position in terms of trading volume among all stocks traded that day. The stock price of Coinbase also rose by 4.83%, marking the second consecutive day of gains, with a total increase of 6.22% over the past two days.

Coinbase's performance in the first quarter of 2025 was notably weak, with its stock price dropping by 33% from January 2 to March 31. This decline, from $257 to $172, represents the company's worst quarterly performance since the FTX meltdown. Despite strong revenue expectations, the stock plummeted, reflecting broader market challenges and investor concerns.

Coinbase's financial metrics provide additional context for its recent performance. As of the latest data, the company has a market capitalization of $44.31 billion, a price-to-earnings ratio of 18.41, and a forward P/E ratio of 21.86. The diluted earnings per share for the trailing twelve months stand at $9.48, with no dividends per share reported.

Recent filings reveal that Coinbase earns a significant portion of its revenue from USDC reserves, receiving 50% of the residual revenue. This highlights the company's strategic focus on stablecoins and its role in the broader cryptocurrency ecosystem. The company's ability to generate revenue from stablecoin reserves underscores its diversified revenue streams and its position as a key player in the digital asset market.