BlockBeats reports that on November 1, according to the latest data released by Coinbase in its third-quarter 2024 shareholder letter:
Total trading volume is $18.5 billion, a decline of 18% compared to Q2 (from $22.6 billion to $18.5 billion);
Institutional investors' trading volume is $15.1 billion, accounting for 81.6% of total trading volume, continuing to dominate;
Retail investors' trading volume is $3.4 billion, accounting for 18.4%.
From the perspective of cryptocurrency asset trading structure:
Bitcoin's trading share has risen to 37%, an increase of 2 percentage points compared to the previous period;
Ethereum remains at 15%;
USDT trading share has rebounded from 10% to 15%;
Other cryptocurrency assets' share has decreased to 33%.
Additionally, Solana's share of trading revenue has reached 11%, highlighting its growing importance as an emerging public chain. Despite a decline in overall trading volume, the increase in Bitcoin's trading share reflects that, after the approval of the ETF, Bitcoin remains the primary cryptocurrency asset favored by institutional investors.
