Cryptocurrencies
Coinbase’s Stock Rebound Obscures Market Share Loss to Peers
- Focus on retail and rivals’ lower fees contribute to decline
- Binance, DeFi exchanges gain favor from crypto-native traders
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The doubling of Coinbase Global Inc.’s stock since the end of June is masking one of the biggest concerns for investors -- the largest US cryptocurrency exchange is losing ground.
Coinbase’s market share fell to 6.3% in July from 10.7% in January, as measured by global spot trading volume among the top 15 crypto exchanges, according to data from CryptoCompare.