On November 1st, according to the data in Coinbase's latest shareholder letter for the third quarter of 2024, the total trading volume was 185 billion US dollars, down 18% from Q2; the trading volume of institutional investors was 151 billion US dollars, accounting for 81.6% of the total trading volume, continuing to maintain dominance; the trading volume of retail investors was 34 billion US dollars, accounting for 18.4%. From the perspective of the transaction structure of cryptoassets, the share of bitcoin transactions rose to 37%, up 2 percentage points month-on-month; Ethereum remained at 15%; the share of USDT transactions rose from 10% to 15%; the share of other cryptoassets fell to 33%; it is worth noting that Solana's share of transaction revenue has reached 11%.