Exchanges

03/01/19 04:00 UTC-4

Report: The fourth quarter of 2018 was successful for Coinbase

Coinbase had the best quarter in the last two years. The crypto-platform released several successful projects in the fourth quarter of 2018, as reported by the CCN news agency.

The online cryptocurrency-exchange, which Semil Shah, the venture partner of Lightspeed, once called "The Breakout Company of 2017", recently completed the 12-day Coinbase launch cycle of the fourth quarter of 2018. Newly launched projects have added features such as instant withdrawals from PayPal and a modified version of Earn.com to the site. Recall that Coinbase acquired Earn.com for $ 120 million in April 2018, but the full launch of the project on the exchange was only at the end of December last year.

 

Coinbase Achievements

The most significant event, of course, is the safe transfer of more than $ 5 billion for cold storage to the company.

In addition, Coinbase attracted an impressive investment of the "E" series worth $ 300 million.

In the last quarter of 2018, the company also invested in several start-ups through an investment unit – Coinbase Ventures. Some of the stock-exchange's interesting investments are API Nomics, Starkware, Abacus Protocol, Securitize cryptographic-projects. This list logically complements previous investments, such as the Reserve project of Stablecoin and Unlock Protocol (access control protocol built on the Ethereum blockchain), and acquisitions such as Cipher Browser.

Perhaps one of the most interesting events on Coinbase was the deployment of the campaign for a "USDC" stable crypto-coin. Recall that each USDC coin represents one US dollar. The tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
does not move up or down, thus providing a safe "shelter" for traders during high market volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details
. Since the launch, along with the Circle project, a stable coin has reached a $ 250 million capitalization price cap in less than two months.

Coinbase also introduced several new cryptocurrencies as part of the coin base offerings, including tokens: BAT, CVC, DAI, DNT, GNT, LOOM, MANA, MKR, ZIL, ZRX.

Coinbase also acquired a license in accordance with the New York State Banking Act, which allows the exchange to operate as a qualified and official intermediary. This contributes to the possibility of creating complex crypto-centric services in the future, such as a rate decision for hedge funds owning a significant number of Ethereum.

Overall, Coinbase experienced significant growth in 2018, with impressive figures for the last quarter. According to the report: the fourth quarter of 2018 was very successful for Coinbase. At the same time, representatives of the exchange hope that in the first quarter of 2019 a cryptocurrency market will show even more impressive results.

Editor: Pereyidenko Ihor

See also: "In Africa, there are more than 17,000 crypto-transactions per day involving iTunes and Amazon gift certificates"

#Coinbase #report #USDC #Earn.com #Ethereum #ZRX

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