Coinbase Overtakes
- Coinbase, in the last eight quarters holds more assets than its total value that is locked into DeFi. DeFi marketplace.
- In the moment at the time of writing, Coinbase assets amount to $114 billion. This is slightly less than the market’s total of $117 billion for DeFi. TVL.
- The share price on the exchange increased by more than 50% during the month increasing COIN’s value to $186.
Coinbase is well-known as the second largest cryptocurrency exchange on the planet However, the business is in competition with all the Decentralized Finance (DeFi) market.
Coinbase takes over DeFi market
Coinbase is, as at the time of this writing, has around $114 billion in assets under its control that is slightly less than the value of all assets of the DeFi market. It is approximately $117 billion. When comparing results of the last quarter, Coinbase leaps ahead.
According to cryptocurrency market intelligence provider Messari’s Crypto Theses 2024, as an organization, Coinbase now has 80 percent more TVL on its books than DeFi does in every blockchain.
Coinbase increased significantly in the years 2023 to 2023 because of the debut the layer-2 Chain Base that is currently ranked as the 4th largest L2 chain worldwide and has an estimated value of $637 million of TVL.
COIN price sets new high
After a year of growth for Coinbase and its customers, the company was spared from legal snares, hacks, vulnerabilities, or issues, the worth of its share in Coinbase soared dramatically. Within the past month the price of COIN jumped by 47.45 percent and it has a current price of $186, as of the closing market on December 28.
It is a year-to date increase by 460%. It has brought the price from $33.67 to a record 2023 record this Thursday.
Although the price indicators Relative Strength Index (RSI) as well as the Moving Average Convergence Divergence (MACD) have been showing positive signs however, this bullish trend may wane as we move into 2024, as the market will require cooling before the anticipated rally on Jan. 10 starts following the the approval of Bitcoin’s spot ETF.
Read Also: Dollar Index Dips as Investors Await FED’s Inflation Moves
