Gemini’s quarterly retail trading volume sinks to 3-year low
Gemini’s third-quarter trading rebound masked a deepening retail slump.
Gemini, a prominent crypto exchange, has reported its lowest quarterly retail trading volume in three years, as disclosed in its Q3 earnings report. Despite an 18% rise in total spot trading volume to $4.5 billion, retail trading plummeted by 14% to $600 million, the lowest level since the third quarter of 2023. While institutional volume increased by 26% to $3.9 billion, the exchange did not specify a reason for the decline in retail trading.
However, Gemini's revenue from exchange activities increased by 7% to $13.4 million, with institutional revenue more than doubling. Retail traders accounted for nearly three-quarters of the total exchange revenue. Other crypto exchanges also reported softer trading activity, such as Coinbase, which saw a 9% fall in retail spot trading volume to $23.4 billion.
Gemini's prediction exchange, Gemini Predictions, managed to deliver a 52% increase in revenue to $796,000, but this was not sufficient to offset the declines. With prediction-market activity expected to strengthen in the fourth quarter, Gemini aims to distribute its event contracts through other platforms, including a potential agreement with Apex Fintech Solutions.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
