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With 21 new cryptocurrency assets added to Coinbase’s spot market listings in Q2, 2025, meme coins naturally took center stage. Kaiko data indicates that the most-traded tokens were Fartcoin, Prompt and Zora. Fartcoin alone surpassed three million trades. This demonstrates the exchange’s shift to coins that bring in a lot of retail interaction and, frequently, high trading fees.
Coinbase’s Q2 results
These additions coincide with Coinbase’s mixed Q2 financial results. Although revenue increased by 33% year over year to $1.05 billion, it was still less than the $1.59 billion analysts had predicted.
By June, April’s $89 billion in monthly trades had dropped to less than $57 billion, which was a dramatic change from Q1, when volumes never dropped below $100 billion. Coinbase’s continued dependence on hype-driven trading activity was highlighted by this decline, which happens to match the lower market volatility even though Bitcoin reached all-time highs in May.
Coinbase’s business plan
Short-term business sense supports the exchange’s plan to list more high-engagement tokens. Despite their volatility, meme coins are a goldmine for exchanges. Due to their low unit prices, rapid news cycles and social media hype, they constantly buy and sell, which results in transaction fees.
Additionally, they frequently draw in new traders, which raises brand awareness and wallet creation metrics. This meme coin-heavy strategy is risky, though. These assets are infamously vulnerable to manipulation, whether via influencer-driven hype cycles, liquidity squeezes or coordinated pump-and-dump schemes.
By branching out into payments staking and other financial services, Coinbase hopes to become a super app that is comparable to China’s WeChat or Alipay and less dependent on trading fees.
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