Loading...
Loading...
Coinbase Trading Volume Plunges 52% to $76 Billion, Marks Lowest Quarter After Public ListingCoinbase Trading Volume Plunges 52% to $76 Billion, Marks Lowest Quarter After Public Listing
Source: AdobeStock / gguy
Coinbase, the largest cryptocurrency exchange by volume in the United States, recorded a significant decline in spot trading volumes as the crypto bear season drags on.
On Oct 11 Bloomberg reportedthat the low figures posted by the popular exchange in the last quarter could be its lowest in the last two years citing analytics from CCData.
Per the report, spot trading volumes for the exchange stood at $76 billion in Q3 2023, a 52% drop from last year's position.
The new figure places the exchange at its lowest level since its Nasdaq listing in 2021 signaling reduced appetite of investors in crypto trading after over a year of chaotic market policies and crashing prices.
Some observers predicted a 10% drop in revenue as transaction volumes remain key to generating funds for the exchange. In Q2, transaction fees made up 54% of the exchange revenues.
Despite reduced activities, Coinbase shareshave skyrocketed over 100% to $75 after a turbulent 2022 which saw its price drop by 86%. Coinbase recorded a slight increase in market share although spot volumes are at a significant low.
Crypto market and institutional players
The interest of large corporations in traditional financeled to major growth in the market as digital assets were exposed to a new client base, with fresh adoption and use cases sparking fresh liquidity cycles.
These “big money” playersshot the market to an all-time high in 2021 before the unfortunate events in 2022 unfolded.
Coinbase was listed on Nasdaq in 2021 and its stock price soared to $350 with new investors buying into the plans for expansion, technical upgrades, and increasing trading volumes.
However, Q4 of 2022 marked a sharp decline in institutional investors in the market and led to a new bear cycle. The fall of the Terra Network and the collapse of FTXin November 2022 have long been cited as reasons for reduced institutional appetite around digital asset products.
Regulation stifles Coinbase and Binance
Coinbase is not alone in recording reduced transaction volumes as market leader Binance suffered a similar fate after its market share dropped for the seventh straight month.
HTX, DigiFinex, and Bybit have reportedly picked up Binance's dropped market share as the exchange faces regulatory scrutiny in and out of the United States.
Tough regulations from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have resulted in lawsuits against Binance, Coinbase, and other platforms increasing uncertainty among market players.
In June the SEC filed a lawsuit against Binance and Coinbasefor allegedly offering trading services to unregistered securities, faulty registrations, and commingling of user assets amongst others.
Although both institutions have vowed to “vigorously defend” the allegations, the move has drawn the attention of global regulators to the firms reducing user confidence.Trezor Marks 10th Anniversary with New Products LaunchAs part of its celebration, the Czech-based firm has launched three new self-custody products.
Hardware crypto wallet provider Trezor is in the mood for celebration after reaching the milestone of being in business for ten years. As part of its celebration, the Czech-based firm has launched three new self-custody products. The new Trezor products are a new wallet, a proprietary private key backup solution, and a Bitcoin BTC-only wallet.
Trezor Unveils 3 New Products
In its official announcement dated October 12, Trezor disclosedthat the new wallet, dubbed Trezor Safe 3, would support over 7,000 cryptocurrencies. According to the firm, the new product is an indicator of how far it has come with its ambition of providing entry-level hardware wallets. Trezor Safe 3 comes nearly five years after the firm released the Trezor Model T back in February 2018. Although the new wallet retains the firm’s unwavering commitment to open-source development, there’s now an addition in that it applies open-source principles even to its security component. To this end, the company has chosen a third-party secure element vendor such that it may publish potential loopholes as soon as they are discovered.
The hardware company also confirms that the new wallet will sell for $79. They are available in four colors solar gold, stellar silver, galactic rose and cosmic black, the announcement says.
Alongside its new hardware wallet, the firm is also rolling out its own physical private key storage solution. The product, which is called Trezor Keep Metal, is considerably similar to the average physical backup solution in the market. That is, the Trezor Keep Metal is designed in a way that allows users to keep their recovery even in extreme cases of fire or water accidents. But more than its safety, Trezor paid more attention to the usability of its private key backup. According to CEO MatejZak, the detailed attention to usability is part of a larger plan to boost global crypto adoption. Trezor Keep Metal goes for $99 on average.
Lastly, the firm also released a limited edition BTC-only hardware wallet, featuring only 2,013 devices.
Since Trezor was founded in 2013, it has gone on to become one of the largest global providers of hardware wallets. Its first-ever wallet, the Trezor One, was released in 2014 and is still selling to date.
nextBlockchain News, Cryptocurrency News, News
Author Mayowa Adebajo
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
Share:
Newsletter
Your e-mail *
subscribe
Thank you!
You have successfully joined our subscriber list.
If the appeal process, which could take years, does not result in a unanimous agreement, the corporation would have to settle any unresolved issues in court.
The United States Internal Revenue Service (IRS) has informed Microsoft Corp(NASDAQ: MSFT) that it owes back taxes of $28.9 billion “plus penalties and interest” for the tax years 2004 through 2013. In an 8-K filingon Wednesday, the corporation revealed that it had received Notices of Proposed Adjustment (NOPAs) from the IRS.
Microsoft counters that up to $10 billion in taxes that it has already “under the Tax Cuts and Jobs Act (TCJA), which could decrease the final tax owed under the audit by up to $10 billion” are not reflected in the proposed adjustments.
Further, the tech giant’s Corporate Vice President for Worldwide Tax and Customs Daniel Goff wrote in a blog poston Wednesday that Microsoft has changed its corporate structure practices since the period covered by the audit. He stated that the issues “raised by the IRS are relevant to the past but not to our current practices.” Microsoft plans to raise its issues with IRS Appeals, a separate IRS division that deals with tax disputes.
“Microsoft disagrees with these proposed adjustments and will pursue an appeal within the IRS, a process expected to take several years. We believe we have always followed the IRS’ rules and paid the taxes we owe in the US and around the world. Microsoft historically has been one of the top US corporate income taxpayers. Since 2004, we have paid over $67 billion in taxes to the US,” Goff wrote.
If the appeal process, which could take years, does not result in a unanimous agreement, the corporation would have to settle any unresolved issues in court. Goff added that Microsoft will continue to cooperate with the IRS and work towards a mutual resolution.
“We will also continue to share updates on significant developments through our public quarterly and annual reports and financial statements, as we have through this entire process. As of September 30, 2023, we believe our allowances for income tax contingencies are adequate,” he stated.
nextBusiness News, News, Technology News
Author Mercy Tukiya Mutanya
Mercy Mutanya is a Tech enthusiast, Digital Marketer, Writer and IT Business Management Student. She enjoys reading, writing, doing crosswords and binge-watching her favourite TV series.
Share:
Newsletter
Your e-mail *
subscribe
Thank you!
You have successfully joined our subscriber list.
XRP Ledger Enhancements Go Live: UNL Vote Triumph Marks Arrival of New AmendmentsAdvertisement
Data from XRPScan reveals that several amendment proposals have passed and are now live on the XRP-Ledger (XRPL). Some of the main amendments have been around non-fungible tokens (NFT) on XRPL and have led to many bug fixes. Specifically, amendment ‘NonFungibleTokensV1_1’ enables native support for NFTs and makes prior NFT amendments obsolete.
Emi Yoshikawa, VP of Strategy & Operations at Ripple, highlighted token issuer protection on XRPL she said “On the XRP Ledger, automatic royalties for NFTs are enforced at the chain protocol level,and creators are NOT at the mercy of individual marketplaces.”
NFTs are one area that is steadily growing on XRPL, and according to Yoshikawa, NFT royalties are enforced at the chain level, removing the need for trust in 3rd parties.
The XRP Ledger enjoys strong growth of its NFT platform due to high transaction speed, settlement within 3 seconds, and ensuring swift interaction. Additionally, the Ledger’s affordability, with fees under a cent, makes NFT participation accessible to a wider audience, addressing a crucial concern in the market.
The XRP Ledger operates exclusively at Layer 1, eliminating the need for smart contracts. This inherent security feature mitigates potential vulnerabilities, ensuring the integrity of NFT transactions.
Advertisement
XRP Cafe highlighted some further advantages the XRPL offers the NFT space, citing build-in decentralized exchanges, which reduces third-party risk, anti-spam measures, and decentralization.
The Amendment Process on XRPL
Due to its open and decentralized nature, the XRP Ledger does not grant any individual or entity the unilateral authority to enact alterations that could affect its functioning. Modifications to the network follow a protocol known as the Amendment process. In essence, this entails submitting the desired modifications to the network for evaluation, after which validator nodes vote to determine whether the changes should be adopted.
Similar to this procedure, a consensus of at least 80% among the validators is necessary to validate the suggested amendments. Sustaining this approval threshold above 80% for two weeks is imperative. Within this timeframe, validators retain the flexibility to revise their votes. Yet, once the 80% consensus is sustained for two weeks, the amendment is officially ratified and prepared for implementation.
According to data from analytics firm Messari, the average daily NFT transaction climbed by 12.7% yearly, from 13,800 to 15,500. NFTokenCreateOffer now accounts for 50% of all NFT transactions; despite that, most NFT transaction types have seen gains each quarter.
Ads by Cointraffic
Shiba Inu Marks Bullish Reversal As SHIB Burn Rate Spikes 152%Shiba Inu is seemingly gearing up for a reversal especially as the community has jumped back into reducing the circulating supply of SHIB tokens. This has resulted in a significant jump in the SHIB burn rate over the last day as millions of tokens make their way out of circulation.
SHIB Burn Rate Rises By 152%
On Tuesday, the SHIB burn ratesaw an interesting turn of events that led to an immense rise in the number of tokens being burned in a 24-hour period. As datafrom Shiba Inu burn tracking website Shibburn shows, the SHIB burn rate is up over 90% in the last day.
During this time period, almost 47.38 billion SHIB tokenshave been sent to burn (dead wallets) addresses. This is a sharp contrast against the previous day’s figures which came in at just above 20 billion. It also shows a turn in the lackluster activity that followed the sluggish weekend.
So far, 29 wallets have participated in burning activities over the last day. Interestingly, the majority of these burns have taken place in the last 12 hours alone with over 20 wallets sending tokens to the burn addressduring this time period.
However, the burn rate for the weekly timeframe is still low and is in fact lower than the prior week’s numbers. Shibburn reports that 276.8 billion tokenshave been incinerated in the 7-day period, which is almost 48% lower than what was burned in the prior week.
HOURLY SHIB UPDATE$SHIBPrice: $0.00000687 (1hr -0.40% ▼ | 24hr -0.74% ▼ )
Market Cap: $4,063,643,805 (-0.15% ▼)
Total Supply: 589,339,201,815,845
TOKENS BURNT
Past hour: 499,633 (1 transaction)
Past 24Hrs: 47,387,963 (152.76% ▲)
Past 7 Days: 272,820,619 (-48.46% ▼)
— Shibburn (@shibburn) October 10, 2023
Shiba Inu Price Could See Reversal
At the start of the week, the Shiba Inu price fell below the $0.000007 level which it had been holding for the better part of the month. This decline below this level signaled a takeover by the bears, but this could be short-lived.
According to BarChart, the meme coin has fallen below its 50-day and 100-day moving averages. Even in the very short term, the coin is still bearish as its price is below the 5-day and 20-day moving averages. However, this is not entirely bad.
Times when the price of SHIBhas turned very bearish have often coincided with bottoms as investors take advantage of the low prices to top up their holdings. As such, it creates a prime situation for a reversal to occur.
For SHIB, a reversal from here will easily see it take over the $0.000007 support from here. But mostly, further rallies would have to be kickstarted by the likes of Bitcoin triggering a crypto market-wide bull rally.Nunchux AI 发布 VC-Attention 内核，加速视频扩散 Transformer 推理Techub News 消息，Nunchux AI 发布 VC-Attention，一种无需训练的低比特注意力内核，专为视频扩散 Transformer 设计。它同时解决值量化误差和 softmax 阶段缓慢两个问题，通过 V-Smooth 处理值异常值和 ExpCast-FP8 优化 softmax 瓶颈。
在 B200、H200、RTX 5090 等 GPU 上的测试显示，该内核能实现 1.13 倍至 1.70 倍的端到端加速，注意力计算速度提升最高达 3.58 倍。在 Wan2.2 等开源视频生成模型上，其保真度优于 SageAttention2 等先前方法。（MarkTechPost）Prior Labs 发布表格基础模型 TabPFN-3.5，在多个基准测试中排名第一Techub News 消息，Prior Labs 发布了其表格基础模型 TabPFN-3.5 的最新版本。该模型无需针对特定数据集进行训练或调优，即可在单次前向传播中完成表格预测。Prior Labs 报告称，该模型在七项表格基准测试中均排名第一。
一项独立演示显示，TabPFN-3.5 在默认设置下，其预测性能超越了 2015 年一场著名 Kaggle 竞赛的获胜解决方案。该模型在 Otto 竞赛的私有排行榜上获得了 0.375 的分数，优于原获胜方案的 0.382。模型仅使用合成数据进行预训练，未接触过 Otto 或任何 Kaggle 数据集。
该模型系列包括开放权重的 TabPFN-3.5（2.2 亿参数）和 TabPFN-3.5-Fast（8400 万参数，速度提升高达 6 倍），以及仅限 API 和企业使用的 TabPFN-3.5-Plus 和 TabPFN-3.5-Thinking。生产使用需要 Prior Labs 的 API 或商业许可。（MarkTechPost）Sakana AI 提出 PC-ALM 算法，可训练千层网络Techub News 消息，Sakana AI 研究人员提出了一种名为“增强拉格朗日预测编码”（PC-ALM）的新算法，作为反向传播的替代方案。该算法能在保持层间更新局部化的同时，恢复与反向传播对齐的信用信号。研究团队报告称，使用该算法成功训练了高达1000层的残差MLP网络，在MNIST数据集上的性能与反向传播相比差距在约2个百分点内。
PC-ALM 是一种训练方法，而非模型，目前仅在小型图像基准测试中进行了验证。该团队提供了基于 JAX 的 MIT 许可参考实现代码，可在 CPU 上运行并复现论文中的宽度-深度网格实验结果。（MarkTechPost）马斯克称 Grok 5 可能实现通用人工智能 (AGI)Techub News 消息，xAI 创始人埃隆·马斯克在 X 平台发文表示，其下一代模型 Grok 5 预计将实现通用人工智能 (AGI)。马斯克称，即将完成训练的 Grok 4.8 会有明显改进，Grok 4.9 有望达到 Astra 或 Fable 级别性能，而 Grok 5 可能会“超越一切”。
马斯克表示，Grok 4.7 与 Anthropic 的 Opus 5.0 大致相当，在多模态性能方面仍需改进。他近日支持 Anthropic 联合创始人关于放缓 AI 能力开发的呼吁，而其自身 AGI 时间表的预测也突显了行业在追求突破与控制风险之间的张力。（BeInCrypto）耶鲁研究：Polymarket 3%交易者赚取平台27%利润Techub News 消息，耶鲁大学与伦敦商学院研究人员发布的工作论文显示，预测市场平台 Polymarket 上约 3% 的交易者赚取了平台总美元利润的 27%。研究分析了两年内 172 万个账户在 21 万多个市场的交易数据。
研究合著者、耶鲁大学经济学家 Theis Jensen 表示，随着竞争加剧，具备持续盈利能力的交易者比例预计将从约 3% 降至 1% 以下。竞争加剧使定价更准确，压缩了套利空间。
研究指出，机构资金持续流入可能使优势进一步集中在专业公司手中，只有最大、最复杂的基金可能持续战胜市场。（BeInCrypto）AllSpark发布开源搜索智能体Iris-mini与Iris-pro，Qwen模型驱动领先基准测试Techub News 消息，AllSpark团队发布了Iris-mini和Iris-pro两款开源搜索智能体，其基于Qwen模型开发，在同等规模的开源权重模型中基准测试表现领先。论文显示，其训练数据与模型即使在未经专门训练的任务上，如通用工具使用和办公工作，性能也有所提升。（The Decoder）英伟达使用 Palantir Foundry 与 cuOpt 自动化全球供应链分配决策Techub News 消息，英伟达正在使用 Palantir Foundry 平台和其开源优化库 cuOpt 来自动化其全球制造基地的硬件供应链分配决策。该公司构建了“数字供应链智能”指挥中心，通过混合整数线性编程来最小化物料所有权时间，并协调零部件供应、产能限制与客户交付计划之间的依赖关系。
为处理非结构化运营变量（如供应商通话记录、天气预测和地缘政治事件），英伟达对 Nemotron 3.5 Lightning 模型进行了领域微调。该模型在历史分配记录上实现了 86.7% 的决策准确率，优于未调优的基础模型和更大的 Nemotron 3 Ultra 模型。微调过程在两块 B200 GPU 上仅耗时数分钟。
英伟达即将为 Vera Rubin 架构构建的供应链网络规模将是支持 Grace Blackwell 网络的两倍。运营选择、计划修订和实际工厂产出数据将持续写回 Palantir 的本体模型中。 （AI News）Cohere 发布 North Small Translate 翻译模型，覆盖 50 种语言Techub News 消息，AI 公司 Cohere 发布开源翻译模型 North Small Translate。该模型为稀疏专家混合模型，总参数量 2180 亿，激活参数量 250 亿，支持从阿尔巴尼亚语到越南语等 50 种语言。在 Cohere 的 WMT26 评估中，其平均得分为 83.6。
Cohere 表示，该模型性能优于 DeepL、Google Translate 以及 GLM 5.2 和 Mistral Large 3 等开源选项。模型可通过 Cohere API 免费调用（受速率限制），也可非商业自托管或商业授权使用。
根据 Cohere 公布的成本图表，该模型每项任务（平均 661 个词元）的成本为 0.000676 美元，而 Gemini 3.1 Pro Preview 的成本约为其 58 倍。 （MarkTechPost）Sakana AI 发布 Fugu Max 与 Fugu Ultra v2 模型，专注多智能体编排Techub News 消息，Sakana AI 发布其 Sakana Fugu 系列的两款新模型 Fugu Max 与 Fugu Ultra v2。Fugu 并非单一基础模型，而是一个通过学习训练的编排器，通过一个 API 将任务路由至背后的模型池。新发布针对两种任务优化架构：Fugu Max 旨在实现最佳单位美元输出，Fugu Ultra v2 则针对复杂、多步骤任务的最高能力。
两款模型现已通过 Sakana 的 OpenAI 兼容 API 上线，提供托管服务，但未开源权重，且不在欧盟/欧洲经济区提供服务。Fugu Max 定价为每百万输入 Token 2 美元、输出 Token 6 美元，据称其输出价格比 Sonnet 5、GPT 5.6 Terra 和 Kimi K3 低 40% 至 60%。
Fugu Ultra v2 专注于复杂推理、自主研究和全栈软件开发，在视觉与结构化数据的持续推理任务上提升显著。Sakana 强调，该架构不依赖任何单一专有模型，可降低供应商锁定、API 撤销和突然服务中断的风险。 （MarkTechPost）OpenBMB 发布 MiniCPM5-2B 模型，在 34 项基准测试中平均得分 53.9Techub News 消息，OpenBMB 发布 MiniCPM5-2B 模型，这是 MiniCPM5 系列的第二代检查点。该模型为密集因果语言模型，参数量约 25.2 亿，采用标准 Llama 架构，上下文窗口为 131,072 个 token，并采用 Apache 2.0 开源许可。
在 34 项基准测试中，MiniCPM5-2B 平均得分 53.9，优于同规模基准模型 Qwen3.5-4B（51.1）。该模型在工具使用、代码推理和长上下文检索任务上表现突出，但在通用知识任务上稍弱于更大规模的模型。
OpenBMB 同时开源了训练数据集，包括 Ultra-FineWeb、UltraData-Code、UltraData-Math 等，以及多个中间检查点，以便社区验证其强化学习与策略蒸馏训练流程的效果。 （MarkTechPost）Coinbase Trading Volume Plunges 52% to $76 Billion, Marks Lowest Quarter After Public Listing Source: AdobeStock / gguy Coinbase, the largest cryptocurrency exchange by volume in the United States, recorded a significant decline in spot trading volumes as the crypto bear season drags on. On Oct 11 Bloomberg reportedthat the low figures posted by the popular exchange in the last quarter could be its lowest in the last two years citing analytics from CCData. Per the report, spot trading volumes for the exchange stood at $76 billion in Q3 2023, a 52% drop from last year's position. The new figure places the exchange at its lowest level since its Nasdaq listing in 2021 signaling reduced appetite of investors in crypto trading after over a year of chaotic market policies and crashing prices. Some observers predicted a 10% drop in revenue as transaction volumes remain key to generating funds for the exchange. In Q2, transaction fees made up 54% of the exchange revenues. Despite reduced activities, Coinbase shareshave skyrocketed over 100% to $75 after a turbulent 2022 which saw its price drop by 86%. Coinbase recorded a slight increase in market share although spot volumes are at a significant low. Crypto market and institutional players The interest of large corporations in traditional financeled to major growth in the market as digital assets were exposed to a new client base, with fresh adoption and use cases sparking fresh liquidity cycles. These “big money” playersshot the market to an all-time high in 2021 before the unfortunate events in 2022 unfolded. Coinbase was listed on Nasdaq in 2021 and its stock price soared to $350 with new investors buying into the plans for expansion, technical upgrades, and increasing trading volumes. However, Q4 of 2022 marked a sharp decline in institutional investors in the market and led to a new bear cycle. The fall of the Terra Network and the collapse of FTXin November 2022 have long been cited as reasons for reduced institutional appetite around digital asset products. Regulation stifles Coinbase and Binance Coinbase is not alone in recording reduced transaction volumes as market leader Binance suffered a similar fate after its market share dropped for the seventh straight month. HTX, DigiFinex, and Bybit have reportedly picked up Binance's dropped market share as the exchange faces regulatory scrutiny in and out of the United States. Tough regulations from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have resulted in lawsuits against Binance, Coinbase, and other platforms increasing uncertainty among market players. In June the SEC filed a lawsuit against Binance and Coinbasefor allegedly offering trading services to unregistered securities, faulty registrations, and commingling of user assets amongst others. Although both institutions have vowed to “vigorously defend” the allegations, the move has drawn the attention of global regulators to the firms reducing user confidence.
