Coinbase's Q2 2025 earnings report revealed an unexpected change in revenue rankings where XRP outpaced Ethereum.
Overview of Revenue Changes
According to the report, XRP accounted for 13 percent of transaction revenue on the platform, while Ethereum secured 12 percent despite handling 15 percent of the total trading volume. The total revenue for the quarter was $1.5 billion, a 26 percent decrease from the previous quarter. Revenue from transaction services fell to $764 million, below analysts' expectations.
Long-term Performance Indicators for XRP
Additional data revealed a growing gap between XRP and Ethereum in long-term revenue contributions. Over six months, XRP contributed 16 percent to the total transaction revenue for Coinbase, compared to Ethereum's 11 percent. This result shows significant growth when compared to the previous year's data post re-listing of XRP on the platform.
Coinbase's Asset Status
Coinbase remains one of the largest corporate holders of Bitcoin, with $1.3 billion worth of BTC. Ethereum follows with $300 million, while XRP amounts to another $200 million. Additionally, revenue related to stablecoins has increased by 44 percent this year, despite cuts by the Federal Reserve.
Coinbase's Q2 2025 report indicates that interest in XRP continues to grow, reaffirming its strengthening role within the platform's ecosystem.
