According to Foresight News and reported by Cointelegraph, the transformation of the crypto market in the fourth quarter has positioned the industry to compete with Wall Street for dominance in 2024 performance. Notably, Coinbase has performed outstandingly, with its exchange revenue currently ranking fifth globally. Data confirms that over the past 12 months, Coinbase's revenue reached $5.75 billion, surpassing Nasdaq and the Chicago Board Options Exchange (CBOE). Jamie Coutts, Chief Cryptocurrency Analyst at investment firm Real Vision, stated on December 17 that cryptocurrencies are encroaching on the share of traditional finance (TradFi).
Additionally, Coinbase generated 11% of global exchange revenue, a figure more than double that of the decentralized exchange (DEX) sector combined, although the latter is still rapidly expanding.