Major events are unfolding in the crypto world: Coinbase has deliberately avoided a radical investment strategy, Uniswap has surpassed the historic $3 trillion trading volume mark, and Michael Saylor’s Strategy is shaping long-term trends in the Bitcoin market.
Coinbase Chooses Caution Over Aggression
The American crypto platform Coinbase had seriously considered investing up to 80% of its balance sheet in Bitcoin in recent years, following the example of MicroStrategy. However, as CEO Brian Armstrong revealed, the company ultimately abandoned this strategy due to high risks.
– “There were moments when we seriously considered putting 80% of our balance into cryptocurrency, specifically Bitcoin,” Armstrong admitted.
He emphasized that such a move could have led to the financial collapse of the company, especially in the highly volatile crypto market. In the end, Coinbase’s team made a measured decision in favor of stability, rejecting an idea that could have “jeopardized the startup’s survival.”
Coinbase CFO Alesia Haas added that the company has no intention of competing with its own clients by aggressively investing in crypto. Such actions could create a conflict of interest, especially given that Coinbase serves both retail and institutional investors.
According to the latest quarterly report, as of the end of Q1 2025, Coinbase had invested $1.3 billion in crypto assets and plans to gradually increase this amount, but without making bold moves similar to MicroStrategy’s.
Uniswap Becomes the First DEX to Hit $3 Trillion in Trading Volume
While centralized exchanges face increasing regulatory pressure, decentralized platforms continue to grow. This week, Uniswap became the first DEX in history to surpass $3 trillion in cumulative trading volume, according to Dune Analytics.
Over the past week, trading volume on the platform reached $62.3 billion, far outpacing competitors. PancakeSwap came in second with $15.36 billion, highlighting Uniswap’s dominant market position.
The platform handles 67.7% of all trades in the EVM ecosystem, confirming its leadership in the DeFi sector. Currently, Uniswap ranks among the top 10 projects by TVL (Total Value Locked) with $5 billion in capital, and the market value of its token UNI has surged 40% in the past 7 days.
However, on a yearly basis, the token price has remained mostly flat, indicating high volatility and dependency on current market sentiment.
Strategy Is Turning Bitcoin Into a Scarce Asset
The company Strategy, led by Michael Saylor, continues to aggressively accumulate Bitcoin, buying at a pace that outstrips the issuance of new coins. According to CryptoQuant CEO Ki Young Ju, this approach is making BTC increasingly scarce and illiquid.
– “Their 555,000 BTC are illiquid, and they have no plans to sell. Just MSTR’s savings imply an annual deflation of 2.23%,” he said.
As of May 4, 2025, Strategy held 555,450 BTC, and since the beginning of the year, the asset has generated a 14% return. Despite this, the company’s quarterly report shows a net loss of $4.2 billion, mainly due to unrealized losses from a decline in Bitcoin’s price amounting to $5.9 billion. Revenue decreased by 3.6%, totaling $111.1 million, while operating expenses skyrocketed by nearly 2000% to $6 billion.
Thus, despite paper losses, Saylor’s approach remains long-term and intentional: the company has no plans to sell its Bitcoin holdings and continues to build a strong BTC position, contributing to a deflationary effect on the market.
Major crypto players continue to move in different directions: some, like Strategy, opt for maximum risk to gain control over scarcity, while others, like Coinbase, prefer conservative diversification. Meanwhile, Uniswap showcases the resilience and relevance of decentralized solutions, reaching historic milestones.
The cryptocurrency market remains dynamic and multipolar, and even its biggest participants are choosing different paths to success.
