Coinbase shares rose by 78% in Q4 2022. However, its transaction volume continued to decline. Cryptocurrency exchange Coinbase has exceeded revenue expectations for the fourth quarter of 2022, but its transaction volume continued to decline. The exchange’s net revenue for the fourth quarter stood at $605 million, exceeding the $589 million estimates of the Wall […]
Cryptocurrency exchange Coinbase has exceeded revenue expectations for the fourth quarter of 2022, but its transaction volume continued to decline.
The exchange’s net revenue for the fourth quarter stood at $605 million, exceeding the $589 million estimates of the Wall Street Journal. This revenue is 5% higher than the revenue of the previous quarter of $590 million. The details have been shared in the Fourth Quarter and Full-Year 2022Transaction volumes fell 12% from the previous quarter. However, Coinbase attributed its 5% quarterly revenue growth to a 34% increase in subscription and service revenues.
Though Coinbase has stated that its staking products are not securities, staking revenues fell compared to the previous quarter. This was because a drop in crypto prices outweighed an increase in staked balances across all crypto tokens.
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