Coinbase is planning to be the top dog, but how will Bitcoin, altcoins react

Coinbase – Planning to be the top dog?
Over the last few years, the lack of Futures and Options trading has been the only gaping hole in Coinbase’s revenue stream. Binance, for instance, registers more than $10 billion in Futures trading volume per day. Hence, with Coinbase entering the fray, the game may now change for every derivatives platform.

For starters, Coinbase brings a different level of credibility to the space, being the only publicly listed company in the cryptocurrency industry. Additionally, major Futures and Options providing platforms based in the U.S are limited to CME Group and Kraken. Here, Kraken only offers its product to non-U.S users.

As far as establishing a market is concerned, Coinbase will hardly break a sweat. Since 2019, Coinbase users have almost doubled, jumping from 30 million to approximately 56 million at press time. What’s more, its monthly active users have parabolically risen from 2.8 million on average in 2020 to 8.8 million in 2021.

The exchange is also one of the largest investors in cryptocurrencies with assets under management north of $200 billion. Binance, on the contrary, boasts of less than $40 billion.

How does it help the likes of Bitcoin and co.?

Source : ambcrypto.com