Sell-Side Equity Research.

How we help you

With institutional-grade, comprehensive exchange and asset data, Kaiko gives analysts continuous visibility into the metrics that drive revenue for companies like Coinbase, Circle, or Gemini, including:

• Spot trading volumes
• Fee-generating pair activity
• Coinbase market share shifts and other exchange movements
• Stablecoin circulation

Using up-to-date insights available 24/7, you can effectively evaluate the signs of an organization’s performance.

outperform consensus with superior market intelligence

The competitive advantage for a sell-side analyst is all about the quality of the narrative. Kaiko’s institutional-grade data powers broad and unique digital asset narratives, including Coinbase equity research and extensive industry coverage, that go well beyond the disclosures of management. 

Using Kaiko Market Explorer, analysts can track an exchange’s precise market share, monitor how the contribution of individual assets ( including BTC, ETH & XRP) to total revenue is shifting, and benchmark a company’s liquidity against its competitors. This all helps to tell an accurate and engaging story that can be acted upon with confidence. 

improve research frequency, client engagement, and analyst performance

Sell-side analysts are usually constrained by the lack of new information available until the next quarterly update.   

Kaiko changes this scenario with real-time data on exchange volumes, stablecoin market share (including USDC & USDT), Coinbase market share relative to global peers, liquidity depth, and on-chain flows, all available as a continuous stream of data, offering regular new catalysts to review and communicate around. 

Whether it’s a market share shift triggered by a regulatory event, a surge in USDC adoption following a new partnership, or a structural decline in retail activity, the data is always available to justify an intra-quarter note, a model update, or a client call.

go beyond free retail crypto market data

Most equity research analysts working on digital asset stocks rely on free retail aggregators like CoinGecko for headline crypto metrics alongside their standard terminal data. This works for surface-level coverage, but falls short when in-depth, institutional-grade analysis is required.

Kaiko addresses the gap between what free retail aggregators provide (headline crypto metrics) and what professional equity research requires. For analysts covering any publicly listed exchange, stablecoin issuer, or crypto-native company, Kaiko’s institutional crypto market data solutions deliver the critical depth where alpha is generated.

solution

Analyse Digital Asset Equities With Kaiko Market Explorer

Track real-time and historical volumes, liquidity, asset and pair contribution, and market share benchmarking across 200+ venues and +12,000 digital assets. Everything an equity research analyst needs to develop critical insights and move before the earnings report.

See Kaiko Market Explorer

FAQ

What is Kaiko and how does it support sell-side equity research?

Kaiko is an institutional crypto market data provider that gives sell-side equity research analysts real-time and historical data on digital asset markets. Analysts covering publicly listed companies such as Coinbase, Gemini, or Circle use Kaiko to track exchange volumes, market share, stablecoin circulation, and on-chain activity, providing data-driven signals that are available 24/7, independent of quarterly earnings cycles.

How does Kaiko help with Coinbase equity research?

Kaiko provides exchange-level data that is directly relevant to Coinbase equity research, including real-time spot trading volumes, Coinbase market share relative to global exchanges, retail versus institutional volume breakdowns, and ETH staking data. Ahead of Coinbase’s Q4 2024 earnings, Kaiko data had already captured a surge in weekly trade volumes to a two-year high, a 3.8% decline in ETH staking market share, and a fall in retail’s share of total volume to 18%, all before the earnings report was published.

Can Kaiko data be used to update stock recommendations between earnings?

Yes. Because Kaiko’s data is updated in real time, 24/7, analysts can identify meaningful market shifts at any point in the quarter, such as a structural decline in retail trading activity, a surge in stablecoin adoption, or a significant change in exchange market share. This gives sell-side analysts the basis for an intra-quarter note, a conviction change, or a model update without waiting for the next earnings report.

What makes Kaiko different from other data providers for digital asset equity research?

Traditional asset terminals provide strong coverage of stock-level price and volume data but offer limited insight into the underlying crypto market dynamics that drive revenue for digital asset companies. Free aggregators provide headline crypto prices but lack the exchange-level granularity, institutional data quality, and real-time depth that professional equity research requires. Kaiko addresses the gap between the two, providing institutional-grade exchange metrics, market share data, and on-chain flows that are not available through either source.

Is Kaiko data suitable for use in professionally published sell-side research?

Yes. Kaiko is an institutional data provider whose data is used by banks, asset managers, regulators, and index providers globally. All data is sourced directly from exchanges, normalised and validated to institutional standards, and fully auditable, making it appropriate for use in professionally published equity research notes.