This {photograph} taken on Jan. 21, 2026 exhibits signage of the Coinbase brand in the course of the World Financial Discussion board (WEF) annual assembly in Davos.
Ina Fassbender | AFP | Getty Photographs
As bitcoin costs fell yet again in the second quarter, traders on prediction market platform Kalshi think Coinbase’s trading volumes suffered as soon as again.
The cryptocurrency trading platform is predicted to publish a 3rd consecutive quarterly decline of trading volumes, and speculators are additionally feeling assured that complete trading volume will slip beneath $200 billion for the primary time since third quarter 2024.
Traders give a 41% likelihood that trading volume is above $160 billion, and only a 25% likelihood it is above $170 billion. That compares to analysts’ consensus estimates for $168.5 billion, based on FactSet.
Speculators are extra sure volume will be above $150 billion, giving {that a} 99% likelihood of occurring.
Coinbase is about to ship its second-quarter earnings report on July 30.
The contract on Kalshi asks traders if Coinbase trading volume will be above numerous ranges, and the result is resolved utilizing info from funding analysis platform Fiscal.ai.
Shares of Coinbase are down greater than 55% since bitcoin costs — that are off barely lower than 50% — peaked in October 2025. Coinbase trading volume’s earlier declines within the first quarter of 2026 and fourth quarter of 2025 got here additionally as Bitcoin costs tumbled over that interval.
Coinbase since Oct. 7, 2025.
Bitcoin costs fell again within the second quarter, off about 12%.
Disclosure: CNBC and Kalshi have a industrial relationship that features buyer acquisition and a minority funding.
