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Coinbase’s Trading Volume Nosedives by 99.2%

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Coinbases Trading Volume Nosedives by 99.2%

On March 12, according to the data released by Crypto KOL and chain analyst Mr. Whale, the trading volume of Coinbase on the Cryptocurrency Exchange has plunged by 99.2% in the past 24 hours, which is the first time in history. The reason may be that the US dollar stable currency (USDC) (partially owned by Coinbase) triggered the anchoring in the bankruptcy of Silicon Valley banks.

Coinbase’s trading volume fell 99.2% in the past 24 hours

Analysis based on this information:


The world of cryptocurrency is known for its unpredictability, and Coinbase, one of the world’s largest cryptocurrency exchanges, is no exception. On March 12, a piece of news from Crypto KOL and chain analyst Mr. Whale shook the cryptocurrency world. According to the data released by Mr. Whale, Coinbase’s trading volume on the cryptocurrency exchange had plummeted by a staggering 99.2% in the past 24 hours. This is the first time such a significant drop has been witnessed in Coinbase’s history.

The reason behind this massive dip in trading volume seems to be related to the U.S. dollar stable currency (USDC), which is partially owned by Coinbase. It is reported that the USDC has triggered the anchoring in the bankruptcy of Silicon Valley banks. This news has raised concerns among the investors and traders in the cryptocurrency market, leading to a significant dip in trading activities on the Coinbase platform.

The USDC is a stablecoin pegged to the value of the U.S. dollar, and it is one of the most widely used stablecoins in the cryptocurrency market. The stablecoin is designed to provide stability to investors in the volatile world of cryptocurrency. However, the recent news has put a spotlight on the risks and uncertainties associated with these stablecoins, highlighting the need for more reliable and secure alternatives.

This event has also raised questions about Coinbase’s capability to handle unexpected situations in the cryptocurrency market. The exchange has been a major player in the market, and any fluctuation in their trading volume can have a significant impact on the overall market. This dip in trading volume has caused concern among investors and traders about the future of Coinbase and has sparked discussions about the need for more resilient and robust cryptocurrency exchanges.

In conclusion, the dip in Coinbase’s trading volume highlights the risks, uncertainties, and vulnerabilities associated with the cryptocurrency market. The event also casts a spotlight on the need for more reliable and secure alternatives to stablecoins. Additionally, it raises questions about the ability of Coinbase to handle unexpected situations in the market, and the need for more resilient and robust cryptocurrency exchanges.

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