Is Coinbase Gaining or Losing Market Share in 2022?

Coinbase (NASDAQ: COIN) is the largest cryptocurrency exchange in the U.S., but it's certainly not the only one. Others include Upbit, FTX, Kraken, LMAX Digital, and many more. With a roughly $36.5 billion market cap and currently trading at more than 34 times forward earnings, Coinbase is not a company that wants to lose market share. In fact, one of its key goals in its early public life while the crypto industry is still evolving is to continue to grow its presence. But has Coinbase lost or gained market share so far in 2022? Let's find out.

On its fourth-quarter earnings call, Coinbase's CFO Alesia Haas noted that in 2021 the company expanded its trading volume market share by 8.5 times compared to 2020, which grew faster than overall crypto spot market trading volume. Transaction revenue for the year came in at $6.8 billion, six times higher than 2020 transactions revenue. 

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Source Fool.com