The main US cryptocurrency exchange Coinbase recently revealed that its 2021 was spectacular. The exchange hit a new record when it comes to revenue, hitting $ 1.8 billion in the first quarter. That’s roughly $ 585 million more than he made in the fourth quarter of 2020 and $ 191 million more than he made in the first quarter of 2020.
Coinbase Global, Inc. announced today the release of its first quarter 2021 shareholder letter. The letter, including the company’s financial results, can be found on the Investor Relations website at https://t.co/h2LGcznWvK
– Coinbase News (@CoinbaseNews) May 13, 2021
Of course, the growing interest in cryptocurrencies had a huge impact, particularly in 2021. The platform now has around 56 million users and its transaction count has skyrocketed to 6.1 million per month. And, of course, it held an initial public offering that increased brand awareness, as well as trust in it.
Coinbase’s big announcement about DOGE
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But, in addition to just revealing the figures, Coinbase also announced a new decision that it had made, and that is to include Dogecoin DOGE / USD. The announcement came as part of the same report, and does not add to the image that Coinbase intended to build.
In the past, the exchange was very strict on the projects it lists, requiring them to be extremely serious, with strong fundamentals, proper use cases, and a goal in mind. Dogecoin is the exact opposite of everything Coinbase wants in its cryptocurrencies. But, with all the hype about the coin, the support from Elon Musk, the fact that it’s the best performing asset of the year, and more, even Coinbase seems to have decided to bow to the hype and list DOGE.
It would seem that even though Coinbase dislikes uncertain projects, it doesn’t like to miss out on opportunities even more. DOGE is likely to see even more traffic and hype, given Elon Musk recently revealed that Tesla will stop accepting BTC payment, blaming the environmental issues related to BTC mining. Given that DOGE’s carbon emissions are significantly lower, DOGE is likely to become Tesla’s next reference currency.