Coinbase Trading Volume Drops 296% to 47th Rank Despite 466% Stock Price Surge

On April 24, 2025, Coinbase Global (COIN) saw a trading volume of $1.366 billion, a 29.6% decrease from the previous day, ranking 47th in the day's stock market activity. The stock price rose by 4.66%, marking the third consecutive day of gains, with a total increase of 16.50% over the past three days.

Coinbase, the largest publicly traded cryptocurrency exchange, has announced that it will waive fees on transactions involving PayPal's stablecoin, PYUSD. This move is part of a broader strategy to enhance the accessibility and integration of PayPal's stablecoin within the broader crypto ecosystem. By eliminating fees, Coinbase aims to streamline the process for users to convert USD to PYUSD and vice versa, making it easier for merchants to adopt this stablecoin for transactions.

This partnership between Coinbase and PayPal is significant as it aligns with PayPal's goal of integrating cryptocurrency into daily financial dealings. The ability to redeem PYUSD for US dollars without incurring fees provides a seamless and instant cross-border payment solution within PayPal's ecosystem, offering a viable alternative to traditional banking methods. This initiative not only boosts the profile of PYUSD but also positions stablecoins as a solid alternative to conventional money transfers.

The zero-fee initiative for PYUSD transactions by Coinbase introduces new competition in the stablecoin market, particularly against USDC, which has historically offered similar benefits. As Circle expands its payment network to support international transfers, the competitive landscape intensifies, highlighting the growing role of stablecoins in the financial sector. This development suggests a future where cryptocurrencies play a central role in economic policy and everyday transactions, driven by legislative efforts to establish a stablecoin framework in the US.