Trading activity on Coinbase International hits new heights with $6.23B record

March has witnessed a substantial surge in daily trading volumes on Coinbase International Exchange, with the figures only falling below the $1 billion mark on five occasions throughout the month. This trend marks a significant uptick compared to the exchange’s previous performance, culminating in a record-breaking daily trading volume of $6.23 billion last Wednesday. Exclusively available to non-U.S. customers in select jurisdictions, Coinbase International caters to institutional clients by offering access to over 30 perpetual futures and spot markets.

A spokesperson for Coinbase attributed this growth to the market’s response to having a trusted and compliant international trading platform. The exchange’s positioning is aimed at capitalizing on this demand to fuel further expansion.

Rally in Coinbase share price

Alongside the spike in trading volumes, Coinbase has also seen a sharp increase in its share price, which rose by over 10% in the last 24 hours, reaching upwards of $280 per share, according to data from TradingView. This rally is in line with the overall cryptocurrency market’s performance, which has seen its market capitalization grow by over 61% since the start of the year. Notably, Coinbase’s shares have mirrored this market uptrend over the same timeframe.

While the current share price marks a positive trend, it still falls short of Coinbase’s all-time high of $342.98, recorded in November 2021. This increase in share price and trading volume on Coinbase International Exchange also showcases the growing activity and interest in the cryptocurrency market, as well as the exchange’s significant role in facilitating international trading for its clients.