Home
News
- 1 Coinbase, a leading cryptocurrency exchange revised its fees structure for institutional clients.
- 2 The conversions between $75 Million and $150 Million are subject to a 0.1% fee.
- 3 Bitcoin the pioneer of the crypto market traded highest near to $49k, but as of writing the token was trading at $43,523.
Coinbase, a renowned centralized cryptocurrency exchange, has recently revealed revised its fee structure, indicating the changes that will be charged to institutional clients for large conversion from USDC to USD exceeding $75 Million.
As per the fresh revision, any conversion between $75 Million and $150 Million are subject to a 0.1% fee, while transitions between $150 Million and $500 Million are subject to a 0.15% fees.
However, the Coinbase team emphasized that there will be a 0.2% fee for converting USDC into US Dollar valued more than $500 Million.
“Coinbase Prime clients with over $500 million of assets on the platform or holding on average $100 million in USD/USDC over a calendar month are exempt from USDC Conversion Fees.”
The Coinbase stock’s performance hasn’t been impressive over the past month. Coinbase exchange is the second most popular crypto exchange having over 50 Million active users.
Crypto Market Overview
Before the historical approval of the Bitcoin spot ETF the entire crypto market was flourishing at constant speed, but following the green signal for the BTC spot ETF, the market did not reflect any major movements.
Similarly, Bitcoin the pioneer of the crypto market traded highest near to $49k, but as of writing the token was trading at $43,523. The market capitalization of the whole crypto industry grew more than 2.85% in the past 24 hours, and was $1.67 Trillion as of writing.
BTC price grew over 12% in the past 7 days, in the intraday time frame it shows a movement of growth of 3.14%.
Despite any major improvement in terms of price, data suggests that a major spike in crypto adoption was seen in Europe following the approval of spot ETF. It is crucial to note that on the first day of business, the ETF hype gathered hundreds of Million towards the market.
Research conducted by Binance states that 55% of survey participants use cryptocurrency for everyday purchases and 10% make payments in cryptocurrencies. In 2023, Crypto(dot)com revealed that the global user base of crypto is above half of a billion, and it will probably reach one billion in the coming years.
“The primary drivers for mainstream adoption in Europe are high returns, decentralization, and innovation, according to 20%, 18%, and 17% of respondents, respectively,” the survey says.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
