Kaiko更深入地了解了Coinbase的市場變動，Exchange的收入率下降到2022年初以來的最低點

區塊鍊和加密市場分析平台Kaiko對平台的移動提供了更深入的見解。 Coinbase於2023年中達到頂峰

Coinbase’s Q4 performance may be indicated by its Ethereum staking activity, which Kaiko’s monitoring tool shows dropped in Q4 as the Beacon Chain experienced less activity.

Coinbase的第四季度性能可以通過其以太坊的放電活動來指示，Kaiko的監視工具顯示在第四季度下降，因為Beacon Chain經歷的活動較少。

Coinbase, the second-largest ETH staking platform after Lido, saw its staking market share decline over the past six months, dropping by 3.8% with an outflow of 1.29M ETH. This observation may indicate the platform’s struggle to generate revenue from blockchain rewards despite being supported by higher ETH and SOL prices.

Coinbase是僅次於Lido的第二大ETH Staking平台，在過去六個月中，其積分份額下降了，下降了3.8％，流出為12.9億ETH。該觀察結果可能表明該平台努力從區塊鏈獎勵中獲得收入，儘管受到了更高的ETH和SOL價格的支持。

Furthermore, Kaiko’s analysis reveals that the return of high-fee generating retail traders was not observed in significant numbers. The investors’ Coinbase trading share decreased to 18%, marking a substantial decline from 40% in 2021. This decrease can be attributed to increased competition among exchanges offering fee discounts.

此外，Kaiko的分析表明，沒有大量觀察到高費生成零售商人的回歸。投資者的共同交易份額下降到18％，標誌著2021年的40％下降。這種下降可以歸因於提供費用折扣的交易所之間的競爭增加。

Coinbase, being one of the most liquid exchanges in the U.S., benefits from its fee structure as a market maker. However, due to high competition and regulatory uncertainty, there was a slowdown in new listings. Kaiko’s analysis also shows a sharp decline in actively traded pairs on both Binance.US and Coinbase following the lawsuits in mid-2023.

Coinbase是美國最液體交流之一，從市政商人的費用結構中受益。但是，由於競爭激烈和監管不確定性，新列表有所放緩。 Kaiko的分析還表明，在2023年中期的訴訟之後，Binance.us和Coinbase的主動交易對急劇下降。

If the regulatory framework improves, Coinbase’s momentum will be boosted once again, allowing the platform to expand its listings and attract more potential retail traders.

如果監管框架有所改善，Coinbase的勢頭將再次提高，從而使平台擴大其清單並吸引更多潛在的零售商人。