In the ever-changing digital currency market, the dynamics of the two major trading platforms, Coinbase and FTX, have become the focus of market attention. Coinbase recently announced that it had increased its holdings of Bitcoin and held 42% of BTC and 24% of ETH, while FTX surpassed other exchanges in terms of trading volume. This series of actions has sparked heated discussions in the industry and the attention of investors, and has also triggered thinking about the future development direction of digital currencies.

As one of the world's leading digital currency trading platforms, Coinbase's latest move has once again caused a sensation in the market. By increasing its holdings of Bitcoin, Coinbase not only demonstrated its confidence in Bitcoin, but also set a positive example for investors. Holding 42% of Bitcoin means that Coinbase will play an important role in the future price trend of Bitcoin, which also wins it a place in the market competition.

In contrast, FTX's recent trading volume has surpassed other exchanges, demonstrating its strong strength in the market. The rise of FTX is not only reflected in its trading volume, but also in its innovative trading products and user experience. By continuously launching new trading products and functions, FTX has attracted a large number of traders and become a dark horse in the digital currency market. Its performance that surpasses traditional exchanges has also made investors re-examine the future landscape of digital currency trading platforms.

In the competition of the digital currency market, in addition to the strength of the exchange, investors are also paying attention to the development trend of the entire industry. As the most representative digital currencies in the market, the price fluctuations of Bitcoin and Ethereum are not only related to the profits of the exchange, but also to the stability of the entire market. Coinbase holds a large number of Bitcoin and Ethereum, which means that it has a certain control over the market trend, and FTX's trading volume surpassing also reflects that the competitive landscape of digital currency exchanges is changing.

With the continuous development of the digital currency market, investors need to pay more attention to market dynamics and grasp market changes. Coinbase's increase in holdings and FTX's surpassing trading volume both indicate that market risks and opportunities coexist. Investors should remain vigilant, but also seize opportunities, flexibly respond to market fluctuations, and achieve their investment goals.

In general, the competition in the digital currency market is becoming increasingly fierce. As leaders in the industry, Coinbase and FTX have attracted widespread attention in the market with their latest developments. Investors should remain vigilant, pay attention to market dynamics, invest rationally, and seize market opportunities. The future of digital currency is full of challenges and opportunities. Only by maintaining a cautious and optimistic attitude can we be invincible in the market. I hope every investor can find his or her own wealth code in the world of digital currency and start a new journey of wealth growth.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Coin Circle (120BTC.com) News: Market commentary agency Trading
Platforms published a 2022 financial research report on Coinbase yesterday (11), saying that Coinbase adjusted its proportion of cryptocurrency assets and increased its holdings of Bitcoin, which is optimistic about the long-term economic potential of Bitcoin in the future: In the first quarter of 2022, Coinbase's assets were as high as 42% in Bitcoin (BTC), a slight increase from 40% in the fourth quarter of 2021. Ethereum accounts for 24% of the company's assets, and other cryptocurrencies account for about 31%.

Coinbase's total assets in Q1 were US$256 billion, down US$22 billion from US$278 billion in Q4 2021. The company attributed this to the decline in crypto asset prices, and billions of dollars of net inflows buffered the greater losses of assets.

Market share decline

Trading
Platforms pointed out that as the overall market value of crypto assets declined in Q4, Coinbase's market share fell accordingly, and the decline was more obvious for assets highly represented on its platform, such as ETH and SOL. Coinbase believes this reflects market conditions, not a sign of weakness.

In fact, Coinbase's market share in the overall cryptocurrency market was overtaken by FTX Exchange in May this year, falling to third place. According to data compiled by TheBlock
Research, the dominant player in the trading market is still (), which has a market share of up to 64.1%; FTX ranks second with 10.8%; and Coinbase ranks third with 9.6%.

Goldman Sachs downgrades Coinbase rating to sell

On the other hand, Coinbase's stock price performance has also been in a long-term downturn. It has fallen by about 78.5% so far this year. Today, it fell by about 10.63% with the trend of US stocks and closed at US$53.88. The market value has evaporated 84% from last year's peak of US$75 billion, leaving only nearly US$12 billion.

It is worth noting that Wall Street giants have recently downgraded Coinbase's stock rating. Forbes reported at the end of last month that Goldman Sachs downgraded the company's stock rating from neutral to sell. Goldman Sachs analysts pointed out: We believe that the current level of crypto assets and trading volume means that Coinbase's revenue base will further decline. We expect a year-on-year decline of about 61% in 2022 and a decline of about 73% in the second half of the year. (The company's 2022Q1 financial report net loss reached US$430 million)

Moody's downgraded Coinbase's corporate family rating (CFR) (a long-term rating that reflects the possibility of corporate debt default) from Ba2 to Ba3 and its secured senior unsecured notes from Ba1 to Ba2, both of which mean junk or non-investment status.

Both agencies' rating downgrades came after Coinbase made large-scale layoffs due to the bear market. The company announced a 18% layoff in mid-June, with nearly 1,000 employees being laid off.