Coinbase’s XRP Outshines ETH and SOL in Revenue Amid Market Challenges

Despite a challenging quarter marked by declining overall revenue and net income, Coinbase’s Q1 2025 earnings revealed an unexpected standout: XRP. While the exchange faced a 10% year-over-year revenue drop to $2 billion and a staggering 94% plunge in net income to $66 million, XRP emerged as a bright spot, surpassing ethereum (ETH) and Solana (SOL) in transaction revenue. This development highlights shifting dynamics in crypto trading preferences during a broader market downturn.

Coinbase Revenue from XRP Surpasses ETH and SOL Amid Market Downturn

Coinbase’s Q1 2025 earnings revealed a mixed performance, with overall revenue declining 10% year-over-year to $2 billion and net income plummeting 94% to $66 million. Retail crypto trading volume fell 17% to $78 billion, mirroring Bitcoin’s 11% drop during the same period. The exchange’s shares slid 6% amid a broader tech sector slump.

XRP emerged as an unexpected bright spot, generating more transaction revenue for Coinbase than Ethereum (ETH) or Solana (SOL). The cryptocurrency’s holdings surged 458%, signaling a potential shift in trader preference. This outperformance comes despite weakening retail activity and raises questions about XRP’s readiness for a price breakout.

Coinbase Launches 24/7 Futures Trading for BTC and ETH in U.S.

Coinbase has introduced round-the-clock futures trading for Bitcoin and Ethereum, marking a significant milestone for U.S. crypto markets. The CFTC-regulated platform becomes the first in the country to offer continuous access to Leveraged derivatives contracts.

The move signals growing institutional acceptance of crypto assets, with Bitcoin and Ethereum cementing their positions as flagship products. Market participants now gain parity with global competitors through uninterrupted trading availability.