Coinbase Global, Inc. reported progress across the Everything Exchange, stablecoins and payments, and onchain adoption — serving consumers, developers, agents, institutions, banks, and government agencies as the most trusted name in crypto.

Everything Exchange: Coinbase reaches all-time high crypto trading volume market share

• Coinbase crypto trading volume market share increased to 8.6%, a new all-time high driven by product innovation and derivatives growth.
• Coinbase continues to hold more crypto than any platform in the world, securely storing 12% of global crypto assets.
• Coinbase derivatives trading volume TTM grew 169% year-over-year, driven by increasing consumer and institutional adoption, with retail derivatives surpassing $200 million in annualized revenue, a new all-time high.
• Coinbase prediction markets reached $100 million in annualized revenue in March (first two full months live) following U.S. launch, one of its fastest scaling products ever, driven by strong retail interest.

Stablecoin and payments: Coinbase drives USDC growth and Base powers agentic stablecoin transactions

• Coinbase is the distribution engine driving growth of USDC, the world’s largest regulated stablecoin, with more than 25% of total USDC in circulation (~$19 billion average USDC held in Coinbase products).
• Base, Coinbase’s layer-2 blockchain, processed 62% of total global onchain stablecoin transaction volume, exceeding all other chains combined.
• More than 90% of onchain agentic stablecoin transaction volume was on Base, making Coinbase the #1 platform for onchain agentic commerce.
• 100 million+ payments processed via Coinbase’s x402 protocol, with 99%+ of x402 transactions completed using USDC.

Onchain adoption: Coinbase sees 2x increase in DEX trading volume

• Coinbase saw a 2x increase in decentralized exchange (DEX) trading volume quarter-over-quarter, driven by native integration of DEX in the Coinbase app.
• Coinbase saw $1 billion year-over-year growth in Borrow/Lend balances.

“We executed well on what was in our control in Q1,” said Brian Armstrong, Co-Founder and CEO. “We saw huge growth in derivatives trading volume, driven by our Everything Exchange. We hit a new all-time high in USDC held in Coinbase products and saw 10x year-over-year growth in stablecoin transactions on Base. We’re also leading on the next frontier with over 90% of onchain agentic stablecoin transaction volume happening on Base. We believe there will soon be billions of agents transacting and they need rails that can keep up, and Coinbase is at the center of the agent economy.”

“The market environment this quarter was softer, but the underlying fundamentals of our business remain strong,” said Alesia Haas, Chief Financial Officer. “We’ve now delivered 13 consecutive quarters of positive Adjusted EBITDA spanning both bull and bear markets, alongside 12 consecutive quarters of native unit inflows. And we’re growing new revenue streams, with 12 product lines each generating over $100 million annualized, and prediction markets on their way to becoming the 13th.”

As the most trusted crypto platform with the broadest product suite, Coinbase’s results show continued conviction that all asset classes will come onchain, and strengthened positioning to drive and capitalize on that shift.

Source: Coinbase