Recently released data from Coinbase‘s Q2 2025 report unveils a surprising shift in the cryptocurrency market as XRP surpasses Ethereum (ETH) 
$2,316 in transaction revenue on the platform. San Francisco-based Coinbase announced a total transaction revenue of $764 million, with XRP contributing 13% of that figure. Bitcoin (BTC) 
$75,815 remains dominant with a 34% share, while Ethereum fell to third, capturing just 12%. Over the past six months, XRP has consistently grown its revenue share to 16%, continuing to outpace ETH.
XRP Revenue Surpasses Ethereum
The report emphasizes the significant impact that the resurgence of XRP trading has had on Coinbase’s financial results during the April-June 2025 period. Following a favorable outcome in its legal battle with the SEC in July 2023, XRP saw renewed investor confidence, contributing to a rapid increase in its market share on the exchange. Experts note that the removal of legal uncertainties has bolstered purchasing interest in XRP.
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Conversely, despite a sharp rise in its price, Ethereum has seen a decline in its position in Coinbase’s revenue structure. XRP’s share has climbed to 16% over six months, whereas ETH has settled at 11%. Last year’s XRP figures fell below the reporting threshold, highlighting a significant shift in Coinbase’s revenue composition.
Eye-Catching Details on Bitcoin and Stablecoins
Coinbase’s cryptocurrency holdings have also drawn attention, consisting of $1.3 billion in Bitcoin, $300 million in Ethereum, and $200 million in other coins. This portfolio places the exchange alongside institutional Bitcoin holders like Metaplanet and Riot Platforms.
Moreover, the revenue from stablecoins has seen a remarkable 44% increase compared to the previous year. Despite a cumulative 100 basis points cut by the Fed, interest-bearing products remained in demand, and assets like USD Coin (USDC) continued to appeal to investors. However, the total transaction revenue of $764 million fell slightly short of analysts’ expectations.
