Kaiko更深入地了解了Coinbase的市场变动，Exchange的收入率下降到2022年初以来的最低点

区块链和加密市场分析平台Kaiko对平台的移动提供了更深入的见解。 Coinbase于2023年中达到顶峰

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过其以太坊的放电活动来指示，Kaiko的监视工具显示在第四季度下降，因为Beacon Chain经历的活动较少。

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是仅次于Lido的第二大ETH Staking平台，在过去六个月中，其积分份额下降了，下降了3.8％，流出为12.9亿ETH。该观察结果可能表明该平台努力从区块链奖励中获得收入，尽管受到了更高的ETH和SOL价格的支持。

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，没有大量观察到高费生成零售商人的回归。投资者的共同交易份额下降到18％，标志着2021年的40％下降。这种下降可以归因于提供费用折扣的交易所之间的竞争增加。

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是美国最液体交流之一，从市政商人的费用结构中受益。但是，由于竞争激烈和监管不确定性，新列表有所放缓。 Kaiko的分析还表明，在2023年中期的诉讼之后，Binance.us和Coinbase的主动交易对急剧下降。

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.

如果监管框架有所改善，Coinbase的势头将再次提高，从而使平台扩大其清单并吸引更多潜在的零售商人。