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Coinbase, one of the oldest crypto exchanges has now become one of the largest node operators on the Ether chain, according to the report by the exchange it held control over an 11.42% stake in Ether the total Ethereum held by Coinbase is roughly valued at $6.8 billion.
The performance report by the exchange says that it holds around 3.84 million Ethereum; host of The Daily Gwei, Anthony Sassano, the stake of the exchange makes it the single largest node operator on the Ether chain.
Coinbase secretly preparing for the crown as market leader
The trading volume of Coinbase fell a few percent in the last several months and the second rank is now controlled by Bybit with 4,019,594 earlier held by Coinbase.
Anthony notes that in broader terms of staking Lido holds more control over the market with several other nodes holding a smaller smaller portion.
However, the users of crypto seem to be losing interest in staking services which has also redirected the decline in the total value locked on different chains.
In the traditional as well as Web3 sector Coinbase has continued to expand its presence by partnering, collaborating, and joining hands with other companies to make its presence for the wider masses.
Most recently Todayq reported that Coinbase has announced its re-entry into the crypto market of India with approval from regulators and agencies.
Despite all these developments, the stock of Coinbase remains in red with a loss of 26.13% in a week, and around 27% in the past 30 days; until publishing it was trading at $189.75.
At the same time the market capitalization of the company is $48.17 billion down by 27.58% in the year 2025 the cap was recorded at $66.52 billion at 2024 end.
Centralized exchange business continues to grow
The centralized exchanges category has grown to a new height in the past few years with Binance reporting in 2024 that it had recorded a volume of $1 trillion highest which demonstrates the growing usage of digital assets.
It is crucial to note, that CEXs offer extra advanced features than decentralized exchanges which makes them different and center of attraction.
In 2024 the list in spot trading was ruled by Binance followed by Crypto(dot)Com, Upbit, Bybit, and Coinbase including a few others, by the end of December 2024 Binance was holding 34.7% market share.
With the time the shape of the market has changed, as one time 1st rank was held by Binance with either FTX or Coinbase on the second but now FTX is facing a severe case of organized illicit activities.
Until publishing the crypto market cap was $2.88 trillion with a surge of 2.81% intraday, despite this growth the cap is down by 10% in the monthly time frame and is also below 50 and 100 days exponential moving average.
