Leading cryptocurrency exchange Kraken has announced revenue of $472 million for Q1 2025, reflecting a remarkable 19% increase from the previous year, even amid a volatile market where Bitcoin dipped below $65,000.
In a promising indicator for a potential bull market, Kraken’s trading volume surged by 29% compared to the same period last year, and funded accounts showed a growth of 26%. However, the platform’s total assets saw a slight decrease of 2%, landing at $34.9 billion. The exchange attributed this decline to the recent market downturn that caused many cryptocurrencies to plummet up to 70%.
“Q1 results are in for @krakenfx? $472 million gross revenue Adjusted EBITDA of $187 million (+19% YoY) Funded accounts growing by 26% YoY Check out the rest here – link and much more on the way for Q2!”
— Dave Ripley, CEO of Kraken
Growing Trading Volume for a Major Exchange Is a Promising Sign for the Bull Run
Finding signs of liquidity and volume is crucial when predicting crypto market movements. With Kraken reporting near a 30% boost in trading volume year-over-year, sentiment among traders remains bullish.
Historical trends indicate that major bull runs often happen when retail investors begin to return to the market, typically after Bitcoin reaches a notable price milestone. For a real resurgence, Bitcoin might need to exceed $110,000, setting itself up for new all-time highs, with analysts eyeing a further target of $200,000.
CoinGecko reveals that the current trading volume across significant centralized exchanges stands at $78 billion, with Kraken representing about $1 billion of that volume, whereas Binance leads at $13.7 billion.
Biggest News for Kraken Exchange in Q1 Was Its Acquisition of NinjaTrader
The standout event for Kraken over the quarter was its strategic acquisition of NinjaTrader, a platform aimed at retail futures and derivatives trading.
“This transaction marks the largest-ever deal combining traditional finance (TradFi) and crypto. It strengthens our position in derivatives for both TradFi services and crypto,” the exchange detailed in its report.
This acquisition enhances Kraken’s ability to cater to traders looking to operate in both asset classes. It will enable crypto traders to engage in traditional futures contracts, providing access to approximately 800,000 NinjaTrader users seeking entry into the cryptocurrency markets.
“This is an exciting day in NinjaTrader’s journey to redefine retail futures trading as we have entered into an agreement to join forces with @krakenfx.”
— NinjaTrader
Track Kraken’s Q1 performance highlights a trajectory towards expedited growth with its multi-asset platform ambitions. With the introduction of Kraken Pay for cross-border payments and crypto debit cards in collaboration with Mastercard, the exchange is poised to enhance its offerings further.
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