Coinbase statistics 2023

A breakdown of users, revenue, trading and income statistics for Coinbase, the second-largest crypto exchange in the world.

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Coinbase is the largest US-based crypto exchange and the second-largest exchange in the world by trading volume.

In this report, you'll find visualised data on Coinbase's user base, trading volume, revenue and income.

Quick summary of Coinbase statistics

  • Over 100 million people used Coinbase in 2022.
  • Coinbase had its largest year-on-year user growth from 2021 to 2022 when it grew by 92.8%.
  • The number of monthly transacting users (MTU) has declined significantly over the past year.
  • Quarterly trading volume peaked in Q4 2021 at US$547 billion and has been in a downtrend ever since.
  • Quarterly net revenue also peaked in Q4 2021 at US$2.27 billion and has been in a downtrend ever since.
  • Coinbase reported a loss of US$545 million in Q3 2022.
  • Coinbase users over time

    Coinbase had 108 million users in 2022, up from 56 million people in 2021. This equates to 92.8% year-on-year growth.

    The platform's user base is up over 100x in the past 9 years.


    Coinbase's user base has grown steadily from Q1 2018 through Q3 2022.

    One of the biggest jumps in quarterly growth was when Coinbase's user base expanded over 20% from Q1 2021 to Q2 2021.

    A similar jump occurred when it expanded by 21.9% from Q3 2021 to Q4 2021.


    The number of monthly transacting users (MTU) on Coinbase saw its biggest quarterly jump in the last 2 years from Q1 2021 to Q2 2021 when the number of MTUs increased by 25.9%.

    The number of MTUs on the platform peaked in Q4 of 2021 and has been in decline since then.


    More than half (53.34%) of Coinbase's website traffic comes from residents of the US.

    UK residents are responsible for 7.82% of the traffic to Coinbase, while Indian residents comprise just over 5% of the traffic to the site.


    Coinbase trading volume trends

    • Daily trading volume on Coinbase peaked at US$11.12 billion in 2021.
    • The closest peak in daily trading volume during a different year occurred in 2022, when it hit US$5.17 billion.
    • Of the years prior to 2021, peaks in daily trading volume paled in comparison to the peak in 2021.
    • 2020 was the year with the highest peak in daily trading volume prior to the 2021 peak, and it was only 24.37% of 2021's peak.

    Quarterly trading volume on Coinbase peaked in Q4 2021 at US$547 billion.

    The second-highest peak in quarterly trading volume occurred in Q2 2021, when it hit US$462 billion.

    Quarterly trading volume on Coinbase has been in decline since Q4 2021.


    As trading volume on Coinbase increases so too does the number of assets left in the platform's custody, though, there isn't a direct correlation between the 2 metrics.

    The largest differences between quarterly trading volume and the number of assets left in the custody of the platform occurred in Q2 2021 and Q4 2021.


    While quarterly trading volume as a percentage of total trading volume for Bitcoin (BTC) has dropped from 50% to just over 30% since Q1 2020, quarterly trading volume for Ethereum (ETH) has risen from 16% to 33% in the same time frame.

    Since Q3 2020, the quarterly trading volume as a percentage of total trading volume for the total of all cryptos traded on Coinbase aside from BTC and ETH has been larger than that of BTC or ETH.


    Coinbase revenue and income breakdown

    • Quarterly net revenue for Coinbase peaked in Q4 2021 at US$2.27 billion.
    • Prior to that, it peaked in Q2 2021 when it hit US$1.93 billion.
    • Quarterly net revenue saw its biggest jump from Q4 2020 to Q1 2021 when it increased 323%.
    • It saw its largest decline from Q4 2021 to Q1 2022 when it decreased by 55.5%.
    • Quarterly net revenue for Coinbase has been in decline since Q4 2021.

    Retail investments drive the majority of net revenue for Coinbase when compared with institutional investments. This dynamic was particularly amplified from Q4 2020 to Q1 2022.

    Since Q1 2020, the highest amount of quarterly revenue that came from institutional investments was US$102 million in Q2 2021, while the highest amount of quarterly revenue from retail investment was US$2.18 billion in Q4 2021.


    While net revenue for Coinbase was still in the green as of Q3 2022, net income for the company has been in the red since Q1 2022.

    Net revenue has been consistently decreasing since Q4 2021, while net income began to decrease around the same time but has bounced back as of Q2 2022.

    Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

    Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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