Coinbase Global Inc (COIN)

[Strategyone]

The daily transactions on blockchain.com do not see all real transactions.

The BAKKT network which is primarily owned by Intercontinental Exchange (the owner of the New York Stock Exchange) together with Starbucks and Microsoft utilize their own internal network to manage all transactions within the BAKKT network on a daily basis and then they consolidate and reconcile to the main blockchain at night. This allows them to handle a much larger volume of transactions without latency. Blockchain only sees the overall net change once a day with necessary differences between internal to BAKKT exchange and the external blockchain.

I suspect this happens with many of the exchanges like coinbase and especially on purchasing networks like square.