According to analysts at Mizuho Securities, US cryptocurrency exchange Coinbase, which last year was the fourth largest cryptocurrency exchange by trading volume, has fallen to 14th place.
The platform’s share over the summer accounted for just 2.9% of the total volume of digital currency transactions processed by the 30 largest exchanges. In the first quarter, as much as 5.3% of market transactions were conducted on Coinbase.
According to analysts at Mizuho Securities, the cryptowinter has led to a sharp weakening in user activity on exchanges, with COINBASE being one of the hardest hit platforms.
In addition, information that Coinbase Global plans to lay off up to 18% of employees has also negatively affected the attractiveness of this platform.