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Coinbase Says Altcoins Jumped to Majority of Trading in Quarter

  • Shares of largest crypto exchange has been tied to Bitcoin
  • Diversification seen helping to cut volatility of financials

Coinbase Global Inc. said that so-called altcoins -- tokens other than Bitcoin and Ethereum -- made up 68% of trading volume in the fourth quarter, the highest percentage yet for the largest U.S. cryptocurrency exchange. 

The shift reflects a decision last year to focus on increasing the stable of coins listed to help ease the impact of Bitcoin’s price swings on revenue and earnings.