Coinbase Global saw its monthly trading volume fall by approximately 30% in January as Bitcoin’s recent weakness drove overall crypto turnover below $150 billion for the first time in six months. The drop in Bitcoin’s share of total volume, which declined to 38% from 53% in November, pushed total exchange fee revenue down 22% year-over-year. Institutional clients reduced spot and derivatives trades by 28%, reflecting broader market caution after Bitcoin’s decline of nearly 18% since early December.

Despite weakness in the flagship token, Coinbase reported that revenue from stablecoin transactions rose 45% quarter-over-quarter, contributing roughly 20% of total trading fees in Q4. The firm’s DeFi gateway handled $12 billion in transaction volume during January, up 60% from the prior quarter, as customers accessed decentralized lending and automated market-making protocols. Management highlighted a 35% increase in custodial assets under management for institutional DeFi products, now exceeding $4 billion.

Director Frederick Ernest Ehrsam III sold a total of 26,750 shares across multiple filings between November and mid-January, disclosing transactions worth over $20 million. At the same time, Chief Financial Officer Alesia Haas divested 8,050 shares, according to SEC Form 4 filings. On the research front, nine firms have reiterated Buy ratings this quarter, while two have lowered their outlook to Hold. The average price target among analysts stands at $363, indicating 14% upside potential from current levels, and institutional ownership remains high at 69% of outstanding shares.