Coinbase reported record crypto market share as derivatives, stablecoins, and 
on-chain products gained traction. The company posted $202 billion in 
quarterly trading volume and said retail derivatives annualized revenue topped 
$200 million. Coinbase Hits Record Market Share as Derivatives Revenue Tops 
$200 Million Coinbase Global Inc. (Nasdaq: COIN) reported on May 7 that its 
first-quarter […]

Coinbase Reports 8.6% Record Market Share and $200 Million Derivatives Revenue

US spot XRP exchange-traded funds recorded net inflows of $11.28 million on 
Tuesday, marking their second consecutive positive day — a streak that 
coincides with a sharp shift in who is actually moving XRP off centralized 
exchanges. Related Reading: Bitcoin Eyes $90K As Bears Get Burned Again Amid 
$30B Open Interest Surge Whales Take Over The Outflow Picture Large holders 
now account for 91.4% of all XRP leaving Binance, according to on-chain data 
compiled by CryptoQuant analyst Amr Taha. Retail traders, by contrast, have 
been squeezed to just 8.4% of outflow activity on the platform. The gap is 
striking. And it isn&#8217;t limited to Binance — across all centralized exchanges 
combined, whale-driven outflows have climbed to 90.5%, the highest reading 
recorded since 2024. Retail participation across those same platforms has 
slipped to roughly 9%, its lowest point in the same period. The numbers paint 
a picture of a market where small traders have largely stepped back, leaving 
the heavy movement to bigger players who rarely show their hand. Exchange 
Reserves Shrinking Fast Separate data flagged by market watcher Xaif Crypto 
shows XRP reserves on Binance are falling at a pace not seen since March. 
Deposit and withdrawal flows over the past 30 days have flipped, with 
withdrawals outpacing deposits by a growing margin. Something&#8217;s happening with 
XRP on Binance 👀 net withdrawals just hit a 30-day reversal coins flying off 
the exchange at the fastest pace since March 📉 the supply shock is loading 
…….. $XRP https://t.co/VXOQPJf1EX pic.twitter.com/nlJLdUOCA1 — Xaif Crypto 
(@Xaif_Crypto) May 6, 2026 When tokens leave exchanges at this speed, it 
typically means fewer coins are available for immediate sale — a condition 
that can tighten supply and affect pricing if demand stays steady or grows. 
The ETF inflow data adds weight to that picture. Reports indicate that 
institutional interest in XRP has been climbing, and two straight days of 
positive ETF flows suggest that appetite has not cooled. Related Reading: 
David Schwartz Says Selling XRP Doesn’t Make Him The Villain What The Data 
Doesn&#8217;t Confirm Still, outflows don&#8217;t tell the whole story. Data shows that 
whale withdrawals can reflect several different moves — long-term storage, 
transfer between wallets, or repositioning across platforms. None of those 
necessarily means buying. Taha&#8217;s analysis acknowledged this directly, noting 
that exchange outflows alone cannot be treated as confirmation of 
accumulation. The contrast with mid-2025 is worth keeping in mind. Back then, 
retail participation spiked to around 2% dominance just as XRP approached its 
record high near $3.66. That surge in smaller-player activity was followed by 
a price drop of more than 60%. Today&#8217;s market looks structurally different, 
with large holders driving nearly all movement. Whether that translates into 
price support remains to be seen. Featured image from MetaAI, chart from 
TradingView

XRP Market Now Controlled By Whales? Dominance Reaches 91% On Binance

US Treasury officials reportedly sent a letter to Binance pressing the crypto 
exchange on compliance with a 2023 deal, after reports circulated that the 
company had facilitated transactions linked to Iran.

US Treasury ‘privately demanded’ Binance comply with monitoring deal: Report

The provisions in the crypto market structure bill are still under review by 
the banking and crypto lobbies as a new poll shows bipartisan voter support 
for the legislation.

CLARITY Act markup could happen as early as next week: Coinbase exec

Animoca Brands chairman Yat Siu told Consensus Miami 2026 that the metaverse 
is over as a consumer destination, and that 100 billion AI agents will become 
blockchain&#8217;s primary users. Animoca Brands chairman Yat Siu told Consensus 
Miami 2026 on Thursday…

Why Yat Siu rejects the metaverse

Prediction markets closed out Consensus Miami 2026 as the subject of a live 
debate on whether they are regulated financial derivatives or gambling 
products operating outside state law. Prediction markets closed out Consensus 
Miami 2026 on Thursday as the subject…

Coinbase Reports 8.6% Record Market Share and $200 Million Derivatives Revenue

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