Crypto.com Overtakes Coinbase To Become North America's Top Crypto Exchange

Crypto.com Overtakes Coinbase To Become North America’s Top Crypto Exchange

Updated: 29 October 2024

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Crypto.com has surged past Coinbase to secure the top spot among North American crypto exchanges, capitalizing on a wider range of product offerings than its competitors and the introduction of crypto ETFs (exchange-traded funds).

Crypto.com’s trading volume almost quadrupled between July and September, when it reach $134 billion, leaving Coinbase far behind on $46 billion, according to data from The Block.

.@cryptocom is leading North American crypto trading, with $112B in volume this month, beating Coinbase’s $46B.

In September, CryptoCom reached $134B in trading, up from $34B in July. $CRO pic.twitter.com/TBknOgB74P

— Satoshi Club (@esatoshiclub) October 29, 2024

Crypto.com Offers A Broader Range Of Products

One key reason why Crypto.com has surged ahead of Coinbase might be its broader suite of products. It offers more than 400, whereas Coinbase offers fewer than 300.

Another reason behind Crypto.com’s recent ascent is the emergence of crypto ETFs, according to a note by Citigroup earlier this month.

Data from CryptoQuant shows that American investors hold approximately 4.9% of the total BTC supply through Bitcoin ETFs. This amounts to roughly 931,000 BTC in less than 10 months.

Crypto.com is holding onto its lead over Coinbase so far this month. It’s racked up trading volume of $132.95 billion, with Coinbase languishing on $54.05 billion, according to The Block.