Coinbase has no more competitors?
If you look at Coinbase's stock, it's clear who has benefited the most from the proceedings around Binance: COIN's stock is up 75% in the last month.
Yes, Coinbase is also in trouble with the SEC, but that doesn't stop them from launching new products and capturing new markets:
- This year they launched their own L2 network called Base. It has only 4 times fewer active users than their main competitor BSC, even though they launched less than a year ago.
- Together with Optimism, they are developing the OP Stack toolkit to create Superchain - an ecosystem of networks with common bridges, standards, governance, security, updates, and so on.
- They are actively expanding beyond the US with their Coinbase Advanced platform, which features both spot trading and derivatives trading.
- Coinbase is taking over the ETH steaking market. They are now in fifth place among all liquid steaking platforms in terms of TVL.
- Plus the exchange will benefit from spot ETF approval because Coinbase will be the intermediary for most of the companies launching ETFs (including BlackRock).
And that's not counting the dozens of other products and services this exchange has in store.
Theories are already running rampant on Twitter that the SEC is in cahoots with Coinbase and they just kicked Binance out of the US and weakened their position in the international market.
If you look at Coinbase's stock, it's clear who has benefited the most from the proceedings around Binance: COIN's stock is up 75% in the last month.
Yes, Coinbase is also in trouble with the SEC, but that doesn't stop them from launching new products and capturing new markets:
- This year they launched their own L2 network called Base. It has only 4 times fewer active users than their main competitor BSC, even though they launched less than a year ago.
- Together with Optimism, they are developing the OP Stack toolkit to create Superchain - an ecosystem of networks with common bridges, standards, governance, security, updates, and so on.
- They are actively expanding beyond the US with their Coinbase Advanced platform, which features both spot trading and derivatives trading.
- Coinbase is taking over the ETH steaking market. They are now in fifth place among all liquid steaking platforms in terms of TVL.
- Plus the exchange will benefit from spot ETF approval because Coinbase will be the intermediary for most of the companies launching ETFs (including BlackRock).
And that's not counting the dozens of other products and services this exchange has in store.
Theories are already running rampant on Twitter that the SEC is in cahoots with Coinbase and they just kicked Binance out of the US and weakened their position in the international market.