Messari The Amount Of Crypto Assets Stored In Custody On Coinbase Surged In The Last Quarter Of 2020
Messari: The Amount Of Crypto Assets Stored In Custody On Coinbase Surged In The Last Quarter Of 2020
March 3, 2021
Messari The Amount Of Crypto Assets Stored In Custody On Coinbase Surged In The Last Quarter Of 2020
Messari: The Amount Of Crypto Assets Stored In Custody On Coinbase Surged In The Last Quarter Of 2020
March 3, 2021

Messari, the crypto data aggregator, has reported that the number of crypto assets stored in custody on Coinbase surged in the last quarter of 2020.

It has been reported that Messari has revealed that as much as 11% of the entire crypto market capitalization was held with Coinbase custody at the end of 2020. Coinbase offers custody services for over 90 crypto assets, around half of which are tradable on Coinbase’s exchange.

However, the value of assets custodied with Coinbase spiked to roughly $90 billion in the fourth quarter of 2020 as the combined crypto capitalization more than doubled to tag $780 billion by 2021.  

The report said that Messari found that Bitcoin (BTC) and Ether (ETH) account for 83% of the cryptocurrency held with Coinbase, despite the wide variety of assets supported by Coinbase Custody.

ALSO READ :  Hive Trading For 20% Premium Over Steem On Bittrex

While Bitcoin consistently represented 70% of the assets custodied with Coinbase during 2019 and 2020, Ether increased from 9% to 13% over the same period. The findings were published in a report examining Coinbase’s anticipated public listing that was compiled by Messari researcher Mira Christanto.

Likewise, Christanto reported that 95% of Coinbase trading revenues are from retail clients, which pay 30 times more than institutional customers.

According to the sector’s current market cap of $1.54 trillion, she also noted a pre-IPO valuation at 7% of the total crypto market cap, which would equate to around $107 billion. Also, according to the S-1 report Coinbase submitted to the Securities and Exchange Commission last Thursday, the exchange posted a direct revenue of $1.1 billion in 2020, mostly from trading fees.

ALSO READ :  Signal Explores Resources Toward Development Of Crypto Payments Service For Its Users

Thus, Coinbase revealed that Bitcoin and other crypto-assets have comprised a major share of its corporate treasury since the company’s founding back in 2012.

Source: Cointelegraph | Image: Pymnts


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Coinbase Active Users Increase By 120%

Coinbase Active Users Increase By 120%

The active users of Coinbase, the major cryptocurrency exchange, have increased by 120%, while trade volumes tripled. It has been reported according to documents filed with the US Securities and Exchange...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.