Coinbase Experiences Brisk User Growth Ahead of IPO
A week before its initial public offering (IPO), Coinbase reported significant user growth for the first quarter of 2021.
In a report released on April 6, the cryptocurrency exchange claimed to have an estimated 56 million verified customers in Q1 2021—that’s an additional 13 million since Q4 2020.
What is Coinbase?
Launched in 2012, Coinbase is the largest consumer-facing cryptocurrency exchange in America.
The company offers a variety of products, such as an advanced trading platform, crypto wallets for retail investors, savings accounts for institutions, and even its own stablecoin that’s backed by the U.S. dollar.
A Surge in Monthly Users and Assets
In Q1 2021, Coinbase saw a 117% increase in transacting users compared to Q4 2020, from 2.8 million to 6.1 million. That’s the highest jump in users in the last three years:
|Quarter||Monthly Transacting Users||% Change|
In addition to its growing user base, the company also reported a 147.8% uptick in assets on the platform in the last quarter, from $90 billion to $223 billion.
|Quarter||Assets Held on Coinbase||% Change|
|Q1 2018||$13 billion||--|
|Q2 2018||12.9 billion||-0.8%|
|Q3 2018||11 billion||-14.7%|
|Q4 2018||$7 billion||-36.4%|
|Q1 2019||$8 billion||14.3%|
|Q2 2019||$21 billion||162.5%|
|Q3 2019||$17 billion||-19.0%|
|Q4 2019||$17 billion||--|
|Q1 2020||$17 billion||--|
|Q2 2020||$26 billion||52.9%|
|Q3 2020||$36 billion||38.5%|
|Q4 2020||$90 billion||150.0%|
|Q1 2021||$223 billion||147.8%|
Industry experts believe this strong start to the year is a good indicator of the company’s future profit potential.
For instance, the investment bank DA Davidson raised Coinbase’s share price target from $195 to $440 after seeing the company’s Q1 results.
>> Liked this? Take a deeper dive into institutional trading volume on Coinbase.
Can You Calculate Your Daily Carbon Footprint?
Discover how the average person’s carbon footprint impacts the environment and learn how carbon credits can offset your carbon footprint.
Your Everyday Carbon Footprint
While many large businesses and countries have committed to net-zero goals, it is essential to acknowledge that your everyday activities also contribute to global emissions.
In this graphic, sponsored by Carbon Streaming Corporation, we will explore how the choices we make and the products we use have a profound impact on our carbon footprint.
Carbon Emissions by Activity
Here are some of the daily activities and products of the average person and their carbon footprint, according to Clever Carbon.
|Household Activities & Products||CO2 Emissions (g)|
|💡 Standard Light Bulb (100 watts, four hours)||172 g|
|📱 Mobile Phone Use (195 minutes per day)*||189 g|
|👕 Washing Machine (0.63 kWh)||275 g|
|🔥 Electric Oven (1.56 kWh)||675 g|
|♨️ Tumble Dryer (2.5 kWh)||1,000 g|
|🧻 Toilet Roll (2 ply)||1,300 g|
|🚿 Hot Shower (10 mins)||2,000 g|
|🚙 Daily Commute (one hour, by car)||3,360 g|
|🍽️ Average Daily Food Consumption (three meals of 600 calories)||4,500 g|
|*Phone use based on yearly use of 69kg per the source, Reboxed|
Your choice of transportation plays a crucial role in determining your carbon footprint. For instance, a 15 km daily commute to work on public transport generates an average of 1,464 g of CO₂ emissions. Compared to 3,360 g—twice the volume for a journey the same length by car.
By opting for more sustainable modes of transport, such as cycling, walking, or public transportation, you can significantly reduce your carbon footprint.
Addressing Your Carbon Footprint
One way to compensate for your emissions is by purchasing high-quality carbon credits.
Carbon credits are used to help fund projects that avoid, reduce or remove CO₂ emissions. This includes nature-based solutions such as reforestation and improved forest management, or technology-based solutions such as the production of biochar and carbon capture and storage (CCS).
While carbon credits offer a potential solution for individuals to help reduce global emissions, public awareness remains a significant challenge. A BCG-Patch survey revealed that only 34% of U.S. consumers are familiar with carbon credits, and only 3% have purchased them in the past.
About Carbon Streaming
By financing the creation or expansion of carbon projects, Carbon Streaming Corporation secures the rights to future carbon credits generated by these sustainable projects. You can then purchase these carbon credits to help fund climate solutions around the world and compensate for your own emissions.
Ready to get involved?
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