How common was larger-exchange overlap among people who funded Uphold?
Of 1,338 consumers with an observed Uphold funding email from October 2024–May 2026, 58% also had activity at Coinbase, Robinhood, Kraken, Binance, or eToro. The finding shows that larger-platform activity was common among people with observed Uphold funding emails, not how they divided their assets or trading volume.
Which exchange relationship appeared first?
Among 635 multi-platform consumers with enough history to compare first activity, 580, or 91.3%, used a larger exchange before their first observed Uphold funding email. First-observed activity establishes sequence within connected inboxes, not the exact account-opening date.
Does this show Uphold replaced another crypto exchange?
No. Funding emails identify Uphold onboarding activity, while exchange receipts do not capture every trade, asset transfer, or dollar held. Another inbox can hide activity. The overlap and ordering therefore cannot show whether consumers shifted wallet share, used the platforms for different purposes, or replaced one service with another.
Assumptions & Methodologies
We analyzed 1,338 established U.S. e-receipt panelists with an Uphold bank-link or funding email from October 2024–May 2026. Larger exchanges were Coinbase, Robinhood, Kraken, Binance, and eToro. The sequence analysis used 635 multi-platform consumers with enough prior panel history to compare first-observed activity. Funding emails do not measure every Uphold transaction, and exchange receipts do not show assets, trading volume, or complete account activity. Unlinked inboxes can hide use, and observed sequence does not establish substitution, wallet share, or causality.