Kraken, a major US cryptocurrency exchange, just announced some seriously impressive numbers for 2024. Their revenue and trading volume absolutely exploded compared to the previous year.
Record-Breaking Numbers
The exchange reported a massive 128% year-over-year revenue increase, hitting a total of $1.5 billion. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) also soared to $380 million. This growth wasn’t just about volume; customers entrusted Kraken with a whopping $42.8 billion in assets, and the platform boasted 2.5 million funded accounts. Trading volume reached a staggering $665 billion, with an average revenue per customer exceeding $2,000 – a figure far outpacing traditional and crypto exchange competitors.
Kraken’s Winning Strategy
Kraken credits this success to its unwavering focus on improving execution across all aspects of its platform. They emphasize not just the quantity of transactions but also the quality, security, and user experience. This commitment to excellence, they say, is a core principle driving their growth.
Following the Staking Relaunch
This announcement follows closely on the heels of Kraken’s staking program relaunch.
Disclaimer: This information is for general knowledge only and should not be considered investment advice. Always do your own research before investing in cryptocurrencies.
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