Offshore Cryptocurrency Exchanges Make Gains while Coinbase Trading Drops Steadily by 83%

The well known Cryptocurrency exchange giant known as Coinbase might, be on the cusp of assembling an “unassailable” market share in the U.S., as said by a market research firm known as Bernstein recently. But that doesn’t really mean that the firm that happens to be based in San Francisco isn’t actually struggling steadily to maintain the current consumer activity ,most especially during the current downturn.

According to the data gotten from CoinApi, a cryptoasset research firm known as Diar made a report stating that the USD-denominated cryptocurrency trading has however plunged in 2018. It also stated that as large cryptocurrency-to-cryptocurrency exchanges that are currently headquartered in other parts of the world have also seen stable and also rising volumes.

According to that same publication, it was also stated that Coinbase —which happens to be the most popular cryptocurrency trading platform in the U.S. — has also seen volumes spike by 83 percent from their all-time high in the month of January. In the month of July, Coinbase actually processed trades worth an estimate of $3.9 billion, which was a drop from a peak of nearly $21 billion.Both Bitstamp and Kraken, whom tends to offer USD trading pairs, have also experienced great declines, though they have been a lot less obvious than those that are seen on Coinbase.