XRP May Have Led Coinbase Retail Revenue in Q2 as Ethereum Regained Momentum Amid Institutional Interest
Main Idea
XRP led Ethereum in Coinbase’s Q2 retail transaction revenue, driven by legal clarity and retail interest, while Ethereum regained momentum due to institutional inflows and DeFi activity.
Key Points
1. XRP’s retail revenue share on Coinbase increased from 10% in Q1 to 13% in Q2, surpassing Ethereum’s 12%.
2. Ethereum’s recovery in Q2 was fueled by institutional demand, ETF inflows, and DeFi activity, resulting in a 38% price return.
3. Coinbase’s total transaction revenue fell 39% quarter-over-quarter to $764 million, reflecting shifting market trends.
4. Retail traders initially favored XRP due to legal clarity but shifted back to Ethereum as ecosystem developments and ETF anticipation grew.
5. The SEC’s withdrawal of its appeal in the Ripple case provided legal clarity for XRP, while Ethereum benefited from regulatory progress like the GENIUS Act.
Description
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