I am so glad

Exchanges have always been the most competitive core battleground in the cryptocurrency industry. At the end and beginning of each year, major trading platforms will gradually release their annual data. Leading exchanges often dominate discussions with astonishing volumes, while in comparison, those still in the second tier but steadily climbing are even more worth a detailed analysis—because they often bear more genuine pressure, adopt more aggressive strategies, and have clearer intentions to innovate. Among these samples, CoinUp, which champions the vision of a "Crypto Oasis," is a particularly representative case. CoinUp was founded in Silicon Valley in 2021, and by 2025, it has entered its fourth full year of deep engagement in the crypto space. From an initial startup team of just dozens of people, it has grown to nearly a thousand employees, with the long-term goal of "building a global one-stop platform for crypto derivatives trading." Over the past year, CoinUp has continued to move forward amid a environment of pressure and expectation: market rhythms change rapidly, public opinion shifts frequently, and competitors respond at an accelerating pace—striving to stay ahead in product experience, seize every market opportunity, while also balancing brand building and managing public sentiment. Because of this, this annual report perhaps better reflects the survival pressures and breakthrough ideas faced by second-tier exchanges. From systematic data analysis, to specific product evolution, to tangible expressions of branding and ecosystem development, let’s take a glimpse into the key pathways for a second-tier exchange to "rise" through CoinUp’s 2025 performance report.

"Show Strength": Using Data to Interpret CoinUp’s 2025 Review

Looking at CoinUp’s progress in 2025, it’s not about a single indicator’s explosive growth, but rather the synchronized advancement across multiple main lines: user scale, trading volume, security, and compliance.

- User Growth: Total registered users surpassed 10 million, covering over 200 countries and regions worldwide.
- Trading Activity: The highest single-day trading volume reached $5 billion, with an average daily trading volume consistently above $3 billion, supporting over 700 spot trading pairs and more than 100 contract/derivative trading currencies, ranking 30th among CoinMarketCap derivatives exchanges.
- Capital Inflows and Revenue: Daily net capital inflow averaged around $80 million to $120 million, with daily platform revenue around $1.2 million to $1.8 million.
- Compliance Progress: Building on licenses obtained from Canada’s FINTRAC and the US MSB, in 2025 CoinUp achieved a key breakthrough by submitting Form D exemption filings to the US SEC, marking the platform’s official full compliance review approval by the SEC.
- Security Capabilities: An asset reserve of $500 million passed independent third-party CER PoR audits, with a core asset reserve rate of 100%, no misappropriation, no leverage operations, maintaining a record of "no major security incidents in 4 years."
- Team and Layout: Employee numbers expanded from less than a hundred to nearly a thousand, with operational centers established in key global cities such as Japan, Hong Kong, Malaysia, and Abu Dhabi.

These indicators together form the performance landscape of CoinUp in 2025: a solid user base, increased trading volume, strengthened capital confidence, and laying a necessary foundation for moving from the second tier to the first tier.

Product-Centric Approach: Only by solidifying fundamentals can one stay long-term in the competitive exchange arena. The fundamental rule remains unchanged: a good product retains users. As an exchange positioned as a "global one-stop crypto derivatives platform," CoinUp’s derivatives trading volume accounts for over 80%, meaning the quality of derivatives experience directly impacts user retention and platform competitiveness. Over the past year, CoinUp maintained a steady monthly iteration rhythm without frequently launching aggressive new features. Building on support for up to 125x leverage, in 2025 CoinUp continued to improve core functionalities: contract leaderboard mechanisms to give trading experts more exposure; copy trading systems connecting signal providers and followers to create clearer benefit synergy; further optimization of the contract demo experience in App version 6.0.5, lowering entry barriers for new users and activating contract trading activity. Meanwhile, the platform continuously enhances its "more intelligent trading tools" system: adding AI market analysis features that support one-click AI interpretation on contract K-line charts, providing quick insights on trends, support and resistance levels, intraday strategies, and more; gradually improving AI contract prediction, intelligent leverage, and other tools, combined with AI-driven trading robots and market-making systems to help investors at different levels improve efficiency and lower entry barriers.

Additionally, detailed optimizations around trading fees, trading thresholds, and user benefits, though not immediately obvious, accumulate long-term experience differences. From the product rhythm, a clear feature of the CoinUp team emerges: emphasizing fundamentals and long-term refinement. Features are not flashy, but experience remains steadily improving, with each upgrade reinforcing the intuitive feeling: "CoinUp has become more user-friendly." This progressive layering ultimately consolidates into a clear user mindset: for crypto trading, using CoinUp is very hassle-free.

CP Chain and $CP: From Trading Platform to Ecosystem Extension

In 2025, CoinUp also made an important move: launching CP Chain and the platform token $CP. As CoinUp’s DeFi experiment in the on-chain domain, CP Chain features over 1000+ TPS, 0.5-second confirmation time, and EVM compatibility, marking a significant step toward integrating CeFi and DeFi into a unified financial ecosystem.

$CP , as the only utility and governance token within the CoinUp ecosystem, covers multiple application scenarios including fee discounts, Launchpad/Launchpool participation, staking, governance, and payments. Although the price of $CP fluctuates in 2025, its multi-utility design, buyback and burn mechanisms, and CoinUp’s long-term ecological development have led many market participants to see $CP as a potential key variable for recovery in 2026.

Building a "Crypto Oasis": Making Traders Feel Safe, Professional, and Warm

Unconsciously, the competition among exchanges has shifted from "tech prowess" to "experience," and now to "comprehensive strength." In 2025, CoinUp repeatedly emphasized its core brand vision—"Crypto Oasis"—which has gradually transformed from a slogan into a perceptible experience. The oasis symbolizes stability, vitality, and hope. CoinUp hopes that within this oasis:

- Global traders can trade efficiently in a safer, more compliant, and more stable environment;
- Builders can innovate and continue development with the support of the CoinUp Foundation and CoinUp Research Institute, the two main ecosystem pillars;
- The platform itself continuously evolves through active users and ecosystem feedback.

To make this concept more tangible, CoinUp launched mascots CC and PP, two otters conveying the brand connotations of "safer, faster, more stable" with friendly images, accompanying users as they explore the crypto world. Over the past year, this iconic "vibrant green" has frequently appeared on the global crypto stage: TOKEN2049 Singapore, CoinUp’s 4th anniversary DJ night, Turkey Blockchain Week, Consensus 2025 Hong Kong, Web3 Future Night, Nasdaq big screen in Times Square, Abu Dhabi Global Blockchain Show… From Asia to Europe and America, CoinUp’s brand presence continues to grow. By establishing closer international communication networks with project teams, investment institutions, KOLs, and media, CoinUp places its security capabilities, product roadmap, and long-term vision in a broader market context for validation, gradually making the "Crypto Oasis" a visible and tangible real experience for users.

2026: A Long Road Ahead, but a Clear Direction

Reflecting on the past is to better move toward the future. As the crypto industry accelerates toward institutionalization and regulation, the breakthrough of exchanges—especially second-tier exchanges—is bound to face multiple challenges: traffic squeeze from top-tier platforms, intensified competition within the same tier, and rising compliance costs. The 2025 performance report is set, and looking ahead to 2026, CoinUp continues to push forward on several key directions: exploring trading capabilities for commodities, forex, US stocks, indices, and other traditional financial derivatives to gradually become an entry point for multi-asset investment; deepening its presence in emerging markets such as Southeast Asia, the Middle East, and Europe as future growth engines; accelerating license applications in more regions including the EU and Dubai, while strengthening security and risk control systems; continuously optimizing products, services, user growth, community building, and commercialization capabilities. Challenges remain: the scale advantage of top-tier platforms, ongoing evolution of product experience, long-term compliance investments, and the redefinition of $CP ’s value—all test CoinUp’s strategic resolve and execution. But these challenges also generate greater market expectations for CoinUp’s performance in 2026. In the process of crypto industry maturing, platforms that truly create value for users and set industry standards will ultimately reach their rightful position. The path of CoinUp’s breakthrough around the "Crypto Oasis" continues to be written.