Coinbase brought in over $2 billion in revenue and saw monthly transacting users grow 44%.
In their quarter 2, 2021 earnings call, Coinbase announced that they’ve exceeded expectations by bringing in over $2.23 billion in revenue, which was expected to be $1.78 billion, reported CNBC.
Their earnings resulted in $3.45 per share, adjusted, after expectations that it would be $2.33. Since last year, the company's net profit is up over 4,900% with them bringing home over $1.6 billion in net profit.
One really interesting statistic that stood out was that the monthly transacting users grew 44% from last quarter up to 8.8 million. As this bull run continues and bitcoin adoption becomes more mainstream, more and more people are going to go down the Bitcoin rabbit hole.
This is how adoption grows. More people are interested in Bitcoin than ever before and one can only think this number will continue to rise throughout the year. This is very bullish.
Tied in with that, more people are trading. Trading volume grew to $462 billion, a total increase of 38% from last quarter. They also shared that 24% of the company’s total trade volume was in bitcoin. This is down 39% from Q1, 2021.