Despite the collapse of rival exchange FTX, Coinbase has seen a significant increase in trading volume in the early weeks of 2023, while other exchanges continue to decline.
According to JPMorgan, this is a clear sign that Coinbase’s focus on being a reliable and safe option for investors is paying off in a big way.
This change in direction is extremely interesting since Coinbase was seeing an ongoing decline in volume throughout 2022.
But instead of following the trend, Coinbase has chosen to focus on building a reputation as a reputable, trusted intermediary and it’s paying off.
They remain a beacon of hope for investors looking for a safe and reliable option to trade crypto without significant risk of fraud.
For those who are in for the long run, Coinbase is the clear choice for a reliable and trustworthy exchange that will continue to gain market share as activity levels rebound.