Coinbase, the biggest crypto exchange in the United States (as trading volume is concerned), has declared a thrilling latest update for the customers thereof. Nearly 73 million confirmed consumers of the exchange would presently be capable of informing the public about their respective holdings in cryptocurrency.
Coinbase becomes social
Rishav Mukherji, the SPM (senior product manager), declared the respective update on Friday through a blog post. Some social-networking updates are being made to the application of Coinbase. One among these relates to the share button by which the traders are capable of sharing the statistics of their assets, like the portfolio allocations and price changes.
The consumers can currently share the allocation percentages, rather than balances, via social media. The respective update is included in the endeavour of the exchange to assist the consumers thereof to better comprehend crypto. Mukherji stated that their objective is to empower the crypto-economy by sharing and learning information among crypto clients.
He added that the exchange would introduce the latest methods for the consumers to share the details of their trade during the next weeks. The integration of social media into the crypto field is no doubt an exclusive step taken by Coinbase. Though, BitMex and other such exchanges have been utilizing leaderboards to display their maximum profit-gaining traders of all time. The customers can also reveal their position over social media. The latest updates of Coinbase are also to help allure additional consumers toward the venue.
This week a figure of monthly transacting consumers has been shared by Coinbase on the forum thereof, which got reduced during this year’s Q3. The amount plunged from 8.8M (of Q2) to 73M. Nonetheless, presently, the exchange is expecting up to 8 to 8.5 million transacting users on a monthly basis. This is above the former estimate of between 5.5 to 8M. Nevertheless, the exchange has additionally begun moving beyond crypto by contemplating NFTs.
Venture into NFTs
Coinbase is operating to make its revenue diversified, and the trading of NFTs is highly expected on the list thereof. In this week’s early phase, Brian Armstrong (the co-founder of exchange) stated that the NFT market could be as large or even larger than the cryptocurrency business of the company. He also mentioned that they are thrilled regarding NFTs as the area is considerably vast in terms of crypto’s future.