The entire crypto market has held steadily at $2 trillion in market cap.
Some people are saying that the biggest risk is that the U.S. bans crypto but I think that is highly unlikely. So many institutional investors are invested that the government will feel the pressure to not ban it.
In Coinbase's earnings announcement, they report $122 billion of institutional assets. Incredible.
First Quarter 2021 Estimated Results*
For the first quarter of 2021, the Company currently expects the following as of or for the three months ended March 31, 2021:
- Verified Users of 56 million
- Monthly Transacting Users (MTUs) of 6.1 million
- Assets on Platform of $223 billion, representing 11.3% crypto asset market share
- Includes $122 billion of Assets on Platform from Institutions
- Trading Volume of $335 billion
- Total Revenue of approximately $1.8 billion
- Net Income of approximately $730 million to $800 million
- Adjusted EBITDA of approximately $1.1 billion