PANews reported on December 17 that, according to Cointelegraph, the transformation of the crypto market in the fourth quarter has allowed the industry to compete with Wall Street for dominance in terms of performance in 2024. In particular, Coinbase and its exchange have performed excellently. Sales are currently ranked fifth in the world. Data confirms that Coinbase’s revenue reached $5.75 billion in the last 12 months, outperforming Nasdaq and the Chicago Board Options Exchange (CBOE). Jamie Coutts, chief cryptocurrency analyst at investment firm Real Vision, said on December 17 that cryptocurrencies are undermining the share of traditional finance (TradFi).

Additionally, Coinbase generates 11% of global exchange revenue, more than double the share of the decentralized exchange (DEX) sector combined, although it is still growing rapidly. “Of course, these comparisons are not entirely clear-cut (i.e. fees equal revenue), but the point is that this sector has been hit hard by regulators’ neglect and/or punishment and is now about to return to a higher valuation,” concluded Coutts.