Messari has stated that the amount of crypto assets stored by Coinbase in the latter half of the previous year has experienced a massive surge. Now, since this information comes from a data aggregator in the Crypto market, most of the participants and investors are actually sitting up and taking notice. But to be honest, the surge was predicted early, considering Coinbase is the largest custodian of crypto assets in the USA.
Coinbase Has Established Its Foothold As The Largest Custodian Of Cryptocurrency
Messari has reported that the exchange currently handles around 11% of the capitalization of the entire crypto market- something that it started in the previous year and is going through even in the new year. According to the latest news reports, this exchange actually offers custodian services of around 90 crypto assets- most of which seem tradable through the exchange feature of this US exchange.
The asset value stored in this exchange spiked to around $90 billion in the last quarter of 2020. Interestingly, the entire crypto capitalization has already gone above $780 billion in 2021. Also, Messari has noticed something very curious. Although the US crypto exchange deals in a large number of cryptocurrencies, it is Ethereum and Bitcoin which store up to 83% of the entire cryptocurrency held at Coinbase.
Ethereum recently saw a rise in its representation at Coinbase, with its amount rising from 9% to 13%, while Bitcoin holds one end of the fort at 70%. Mira Christanto, one of the researchers at Messari reported these findings in one of the reports that examined the anticipated public listing of this US crypto exchange.
She reported that around 95% of the trading revenues held at this exchange were accumulated from retail clients- with most of them paying around 30 times the amount paid by institutional customers. In a report produced before the SEC, Coinbase reported close to $1.1 billion the previous year.