Coinbase CEO Claims the Cryptocurrency Ecosystem is Expanding Via These Select Metrics


Via a barrage of tweets posted online by Brian Armstrong earlier today, the Coinbase topdog has indicated that his firm is currently experiencing unparalleled growth due to newfound bullish sentiment that seems to have engulfed the crypto sector at large.

Through his posts, Armstrong stated that many of Coinbase's native operational wings – including its Commerce, Earn and Wallet services – have been gaining ever-increasing market traction over the course of the past few months. Not only that, he then went on to claim that this recent growth spurt was not just restricted to his company alone. In this regard, he then went on to release “some un-audited data” through which he tried to show that the cryptocurrency industry as a whole too was surging right now.

A quick look at the charts presented by Armstrong via the above mentioned twitter thread show us that many of Coinbase's core divisions seem to growing quite exponentially at the moment. For example, through the firm's ‘Earn' portal, more and more individuals seem to be learning about tokens such as Stellar, Zcash, 0x. Similarly, statistical info obtained from Coinbase.com also highlights a tangible rise in the USD value of the firm's native wallet offering.

With that being said, we should point out that none of the charts presented by Armstrong come with the Y-axes, as a result of which, no meaningful data can be inferred from the graphs (apart from extrapolating some simplistic general growth trends).

https://twitter.com/brian_armstrong/status/1115760627765530624

More on the Matter

As some of our readers may recall, at the end of last year (October to be exact), a report released by Bloomberg indicated that Coinbase was all set to rake in a revenue share of around $1.3 billion despite the industry at large being in the grips of a crypto winter at the time.

If these numbers are looked at closely now, it appears as though the firm will witness a whopping 40% gain in its revenue share— when compared to associated figures from 2017. Also, what is even more striking is the fact that the Armstrong's recently released charts suggest that Coinbase could be all set to experience even more growth since over the course of the past 12-16 months, the firm has launched a number of new offerings.

Final Take

As mentioned earlier, when looking at some of the recent numbers put forth by Armstrong, it becomes all to clear that particular divisions within his company are currently growing quite rapidly. However, it still remains to be determined whether or not the same can be said for the crypto market at large – especially since much of Armstrong’s information cannot be corroborated with “audited, third-party data”.

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