Coinbase Sees Increased Trading Volume To Begin 2023 – February 3

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$23,575

Bitcoin price is ranging between $23,000 and $24,000 as price continues to move sideways following January’s advance.

Top-20 altcoins have mostly cooled off too, as Ether falls 1%, BNB rises 1% and Cosmos is the biggest mover with a 4% gain.

Top Stories for February 3, 2022 🔥

👉 Coinbase Sees Increased Trading Volume To Begin 2023

Publicly-traded crypto exchange Coinbase has had a strong start to 2023, with a 58% increase in total monthly trading volume to $55 billion in January. Average daily trading volume has reached $1.8 billion – the highest since August.

The dismissal of a lawsuit alleging the sale of unregistered securities has also led to a 24% jump in Coinbase’s shares. Cowen analysts expect Q1 revenue to be around $652 million, higher than their current estimate of $518 million and the average consensus of $604 million.

👉 US Senate Banking Committee To Hold Crypto-Crash Hearing

The U.S. Senate Banking Committee will hold a hearing on February 14th to examine financial system protections from the “dangers” of digital assets.

The hearing, titled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets,” demonstrates the urgency of crypto issues in Congress.

Chairman Sherrod Brown (D-Ohio), wants to start a serious effort towards U.S. government oversight of crypto, while new ranking Republican, Tim Scott (R-S.C.), says the members should work towards a bipartisan regulatory framework.

👉 Binance Re-Enters South Korean Market Via Gopax Exchange

Binance is returning to South Korea after exiting the market two years ago, acquiring a majority stake in Korean crypto trading platform Gopax.

Binance CEO Changpeng Zhao believes the acquisition will further rebuild the Korean crypto and blockchain industry. CBO Yibo Ling stated that the company has acquired a “meaningful” equity position in Gopax, without disclosing the terms of the deal.

The acquisition comes a few months after Gopax halted withdrawals from certain products amid the collapse of the FTX exchange.