Coinbase reports a surge in institutional and consumer transaction revenues, with XRP accounting for 14% of earnings per coin.
Leading crypto exchange Coinbase released its Q4 earnings yesterday. It revealed quarterly revenue of $2.3 billion and transaction revenue of $1.6 billion, up 88% and 172% from the previous quarter, respectively.
Meanwhile, Vet, an XRPL dUNL validator, highlighted a feature of the quarterly report that interested the XRP community. In a tweet, he pointed out that XRP outpaced assets like Ethereum and Solana in percentage contribution to Coinbase’s transaction revenue.
XRP Is One of The Most Traded Assets on Coinbase in Q4
Citing the Coinbase report, Vet’s tweet shows that XRP accounted for 14% of the transaction revenues in the exchange last quarter. For perspective, transaction revenue is generated each time customers buy and sell an asset on an exchange, and the more transactions relating to the underlying coin, the higher its transaction revenue.
XRP’s Transaction Revenue on Coinbase
This suggests that XRP is one of the most traded assets on Coinbase, indicating both institutional and retail traction for the asset. The analysis speaks volumes because trading volume and revenue from both classes of traders surged in Q4 amid easing regulatory policies.
Meanwhile, the massive attention added lining to Coinbase’s pocket, with the exchange gaining $224 million from XRP transactions in Q4, 2024. This stat looks more interesting because XRP’s transaction revenue superseded that of its major rivals.
For instance, Ethereum accounted for 10% of transaction revenues, while Coinbase failed to reveal Solana’s share.
“Headwinds are turning to tailwinds, folks,” Vet stated.
XRP’s Reemergence as a Prominent Crypto Asset
Notably, in a broad sense, XRP has retaken its place as a major asset in the crypto space, securing the third spot among the largest assets by market cap. Notably, the changing tide started with Donald Trump’s November 5 election victory.
Trump promised to sack former SEC boss Gary Gensler amid other actions to liberate XRP and the broader crypto market from regulatory tyranny. The growing ties between Ripple, an integral part of the XRP ecosystem, and the White House have further boosted confidence among enthusiasts that the years-long legal battle between the SEC and the payment giant will end soon.
Due to this imminent regulatory clarity, XRP has surged extensively since November. In January, the XRPL native token recorded its highest-ever monthly close, ending the month at $3.035.
Despite the recent correction, XRP has shown that momentum is still on its side. With a strong rebound after the hopes of an XRP spot ETF received a boost, analysis suggests the high-caliber asset could target a massive rally to $25.
