Coinbase Reinvests $180 Million in Crypto: Ether (ETH) and Bitcoin (BTC) Still on Top!

According to a statement by CFO Alesia Haas, Coinbase has reinvested a total of $180 million in profits into the cryptocurrency. Coinbase has released its financial summary for the third quarter, which highlights key business and financial metrics, and a report from the previous quarter as well as detailed insights into the crypto market.

Coinbase predicts a bright future for tokens

According to a Coinbase report, BTC and ETH are holding their leading positions, given the trading volumes on Coinbase.

The global cryptocurrency exchange has a long-term strategy to expand its support for the two major crypto groups.

Alicia Haas commented on the $180 million reinvested earnings:

Overall, our goal is to become a large majority, if not 100%, cryptocurrency over time. We made two commitments: the first was to invest $500 million of our funds in cryptocurrency and the second was to allocate 10% of our quarterly net profit to crypto investments. Since the beginning of the year, we have invested more than $180 million.»

In total, the exchange has already invested $540 million in BTC, ETH and other crypto assets.

market race

Many bitcoin advocates refer to the virtual currency as a “store of value,” a condition often attributed to traditional investments such as gold. They argue that bitcoin is a good tool to combat the inflation that worries investors around the world.

If bitcoin is still the industry leader, then ether follows. The market capitalization of Ethereum is currently over $560 billion.

This year, the price of Ether has surged more than 500%, breaking the all-time record. Investors believe that Ethereum will be key to the DeFi sector, including smart contracts and NFTs and the future metaverse.

Unlike the Bitcoin network, the supply of Ethereum is unlimited. New ETH tokens are constantly generated through the same process as Mining of bitcoins.

The expectations of its network consist of faster speed, improved security and high scalability that can process thousands of transactions per second on the blockchain.

The winner is not determined

Many people are still comparing Ethereum to Bitcoin and are hoping that soon Ether will be able to overtake the largest cryptocurrency. However, this is not likely to happen any time soon.

If the downside of Bitcoin is its volatility, the only challenge for Ethereum is that the development of Ethereum is incomplete, so it is difficult to predict what improvements will come.

This can create a lot of confusion in the investment process. For this reason, it is unlikely that ETH will outperform Bitcoin in the near term. However, the cryptocurrency market is always subject to many changes, so no one can predict what might happen.

Moreover, others anglesSuch as Solana, Tether or Cardano receive stronger support and attract more attention.

Despite the distance between the two largest cryptocurrencies and the rest, tomorrow remains a mystery. Any new cryptocurrency can disrupt the situation at any time, given Amazing increases in some angles. The future will allow us to put points onISo, stay tuned with Cointribune to be up to date!

You still have a chance to participate in the contest organized by Bybit to win $2000 in Bitcoin! to play, click here.

Get a summary of the news in the cryptocurrency world by subscribing to our new daily and weekly newsletter so you don’t miss any of the Cointribune essentials!

user picture

Jean-Louis Lefevre

I am convinced that cryptocurrencies open up extraordinary new horizons that I do not want to miss under any circumstances! I am constantly trying to enrich my skills in this field and share everything I learn with my followers and the hours I spend exploring this universe.

Leave a Comment