In the month of August, Crypto.com surpassed Coinbase, becoming the leading crypto-exchange in the world. September, on the other hand, seems to be recording a general market bear.
Crypto.com surpasses Coinbase in August: the crypto-exchange records $95.64 billion in transactions
Crypto.com surpassed Coinbase in the month of August, becoming the leading crypto-exchange in the world.
According to what reported, during the past month, Crypto.com would have recorded 95.64 billion dollars in transactions, out of a total of 193.97 billion dollars.
In practice, for 49.30% (almost half) of the total trades took place on the Crypto.com platform.
On the contrary, Coinbase would have recorded in August 62.83 billion dollars in trades, equal to about 32% of total trades.
The ranking of the top crypto-exchanges by trading volume in August saw Crypto.com rise to the first position, followed by Coinbase and, in third position, Kraken.
In any case, in general, with these numbers, August has become the second highest month in terms of trading volume in 2024, after March. In the month of Bitcoin’s ATH, the volume on crypto-exchanges had reached 276.9 billion dollars.
September and the general crashes of crypto-exchanges and crypto-markets
Unlike August, September seems to have started with a general market crash in the crypto market.
Not surprisingly, Coinbase has recorded the worst week of the year, but also the prices of Bitcoin (BTC), and other cryptos are experiencing dumps. The Bitcoin mining company, Marathon Digital, has collapsed by -20%.
The Coinbase (COIN) stock has plummeted by -22% in the last five days, reaching the price of $147.35.
In the last week, the price of Bitcoin (BTC) and Ethereum (ETH) has dropped by -5%. Specifically, at the time of writing, BTC is worth $54,804 and ETH $2,300.
Looking at the sentiment of the crypto market, led by Bitcoin, it seems that there is negativity. For example, the Bitcoin Fear and Greed Index a few hours ago, showed a score of 26 of “fear”.
Bitcoin Fear and Greed Index is 26. Fear
Current price: $54,852 pic.twitter.com/v6g8Yg1SPI
— Bitcoin Fear and Greed Index (@BitcoinFear) September 9, 2024
The famous bull of Crypto.com
Crypto.com is now known for its commercials featuring famous people outside the industry. The series of commercials is called “Fortune Favors The Brave” (fortune favors the bold).
The last of May 2024, saw the famous American rapper Eminem as the protagonist. It was a montage of a boxing workout described by Eminem with crypto jargon.
This partnership with the singer comes after the first partnership of Crypto.com with Matt Damon in October 2021. Here, the commercial with Damon aimed to compare the “victories” in various competitions with the “victories” of human evolution, of which cryptocurrencies would be a part.