Subscribe To Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022
    Facebook Twitter Pinterest LinkedIn
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Bitcoin
    • NewsWire
      1. Latest News
      2. Top Stories
      3. Features
      4. What’s Hot
      5. Must Read
      6. Trending
      7. Spotlight
      8. Editors’ Picks
      9. View All

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      El Salvador’s Companies Barely Bother With Bitcoin

      March 19, 2022

      New Jersey legislation aims to prevent public officials from being gifted NFTs

      March 18, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Crypto’s Preferred Currency for Political Donations Isn’t Bitcoin. It’s Dollars

      March 19, 2022

      Meta Sued by Australian Watchdog Over Scam Crypto Advertisements

      March 18, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022

      Wall Street Reluctantly Embraces Crypto

      May 1, 2022

      Warren bill draws outcry over broad terms, but seems unlikely to pass

      March 20, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Russia-Ukraine War Is Bringing Out the Good, Bad, & Ugly of Cryptocurrencies

      March 18, 2022

      The ‘world’s most advanced’ digital human wants you to buy her NFT art

      March 15, 2022

      FTX crypto exchange wins license in Dubai to open regional headquarters

      March 15, 2022

      Crypto Startup Founded by Ex-Meta Employees Raises $200 Million

      March 16, 2022

      U.K. Crime Agency Wants to Regulate Crypto Transaction Mixers

      March 15, 2022

      A Wall Street Quant Turns His Crypto Firm Into a Unicorn

      March 14, 2022

      Standard Chartered’s crypto custodian to help clients earn yield on token holdings

      March 14, 2022

      Man passing as UN affiliate convicted for crypto scheme

      March 18, 2022

      The Future of Crypto Is Boring — and Bright

      March 15, 2022

      Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates

      March 15, 2022

      Binance Wins Crypto Licenses From Dubai, Bahrain

      March 15, 2022

      Why Bitcoin’s Environmental Problems Are So Hard to Fix

      March 16, 2022

      Americans Want Crypto From Their Banks

      March 15, 2022

      Why Decentralized Exchanges Are Important in the Crypto Economy

      March 10, 2022

      Binance plots M&A spree as regulators scrutinize crypto trading unit

      March 10, 2022

      Amid New Executive Order, White House Director Sheds Light On Crypto Policy

      March 16, 2022

      Bitcoin Evangelist Saylor Tells Economists Why They’re Wrong

      March 15, 2022

      Crypto Mania in Texas Risks New Costs and Strains on Shaky Grid

      March 15, 2022

      Bitcoin’s scared of commitment, Mr. Biden

      March 15, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022
    • Altcoins
      • Ethereum
      • XRP-Ripple
      • Solana
      • Dogecoin
      • Cardano
      • Shiba Inu
    • Topics
      • Cryptocurrencies
      • Investments
      • Markets
      • NFTs
      • DeFi
      • ETFs
      • DAOs
      • Crypto Regulation
      • Metaverse
      • Blockchain & Web3
      • Blockchain Gaming
      • Crypto Exchanges
      • Crypto Mining
      • Stablecoins
      • Cybersecurity
      • Digital Currencies – CBDC
      • Crypto Book Reviews
      • Technology
      • Internet of Things
    • Opinions
    • Explainers
    • Press Releases

      Former Uber LatAm Head of Policy Leads Crypto Ride-Hailer Drife Toward Planned Global Expansion

      March 7, 2022

      European index provider for crypto assets Vinter raises $3.4m funding

      February 22, 2022

      PR – British crypto processor brings in $60 million for expansion in Europe

      January 25, 2022

      PR – CoinMENA obtains 2nd crypt0 license from European Union

      January 25, 2022

      NFT investment specialist looks to acquire Pluto Digital for £96m

      January 24, 2022
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Home»Crypto Exchanges»Crypto Winter Seen Weighing On Coinbase Quarterly Results Again
    Crypto Exchanges

    Crypto Winter Seen Weighing On Coinbase Quarterly Results Again

    By Yueqi Yang and Matt Turner
    February 24, 2022By Bloomberg3 Mins ReadNo Comments
    Facebook Twitter LinkedIn Pinterest Reddit WhatsApp Email Tumblr VKontakte Telegram
    Share
    Facebook Twitter Pinterest Reddit WhatsApp Email LinkedIn Tumblr Telegram

    Coinbase Global Inc. shareholders are bracing again for quarterly results that may show the lull in cryptocurrency markets continues to dampen the enthusiasm of individual investors.  

    The largest U.S. crypto exchange is set to report fourth-quarter results on Thursday. In recent months, it had scored an impressive Super Bowl ad, drummed up interest in its upcoming NFT marketplace, and avoided a potential hack of its new trading function.

    Donate to RareHippo Now!

    Yet its shares are trading at about 40% below November’s record high, and even below the first-day opening price when it went public last April. 

    “The number one concern is still on the Bitcoin price,” said Owen Lau, an analyst at Oppenheimer & Co Inc. Crypto trading makes up the majority of the company’s revenue, and investors will watch for the percentage of non-trading revenue as a sign for diversification.

    “Fundamentally speaking, I don’t think they should be trading hand-in-hand, but in reality they are.”

    Coinbase has traded in lockstep with bitcoin since its trading debut last year
     Bloomberg

    Coinbase shares have been closely tracking with the price of Bitcoin, which has plummeted to below $40,000 from a peak of nearly $69,000 in early November, dragged by the anticipated U.S. interest rate increases and tensions between Russia and Ukraine. With Coinbase, “people also priced in the concerns of a crypto winter — we may see a bear market for crypto for a while,” Lau said. 

    Ahead of the earnings result, D.A. Davidson analyst Chris Brendler cut his price target for Coinbase to $275 from $400, citing “more cautious market conditions” in the next two years.

    While raising fourth-quarter estimates, first-quarter activity has slowed dramatically, as indicated by publicly available exchange data, Brendler wrote in a note. 

    Coinbase is expected to report $2 billion revenue in the fourth quarter, $1.73 billion of which will be from transactions, according to the average estimate of analysts surveyed by Bloomberg.

    Monthly transacting users is estimated to be 9.8 million, up from 7.4 million in the third quarter. But that number is expected to fall to 8.6 million in the first quarter, the survey shows. 

    Investors will also focus on Coinbase’s retail trading fee rate, which continues to be under significant pressure, said Dan Dolev, senior fintech analyst at Mizuho. Robinhood Markets Inc, which offers zero-commission fees on crypto trading, “shows you the future, which is a world where crypto trading is free of charge,” he said. 

    Julie Chariell, Bloomberg Intelligence’s senior analyst of fintech & payments:

    Coinbase revenue may have recovered in 4Q with crypto market trading volume up 24% QoQ, vs. down 21% in 3Q. According to data from Sensor Tower, monthly active users grew 11% sequentially, slower than all of Coinbase’s smaller competitors, but strong in the absolute number of net adds, second only to Binance. Given crypto price softness year to date, company guidance for 1Q will be important. So far, trading volumes have fallen off by 20% in January, and may likely slide further based on trends in February volumes.  

    Another crucial area to watch will be Coinbase’s ability to competes with international exchanges. The company’s decision to list Shiba Inu — a Dogecoin inspired meme token — in September likely helped push trading volume to a record high in the fourth quarter, according to Needham & Co Inc. analyst John Todaro.

    New offering including its yet to be released NFT marketplace are “critical to compete with international exchanges which have ramped up U.S. efforts in recent months,” he added.

    Read full story on Bloomberg

    Crypto Exchanges
    Previous ArticleJapan’s largest bank set to abandon blockchain payment network project
    Next Article Wall Street Engineers Embark on Expanding a Bitcoin Derivative

    Related Posts

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 20221 Min Read

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 20223 Mins Read

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 20224 Mins Read

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 20225 Mins Read

    Wall Street Reluctantly Embraces Crypto

    May 1, 20225 Mins Read

    Warren bill draws outcry over broad terms, but seems unlikely to pass

    March 20, 20225 Mins Read
    Add A Comment

    Leave A Reply Cancel Reply

    Donate to RareHippo Now!
    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 2022

    Wall Street Reluctantly Embraces Crypto

    May 1, 2022
    Follow US & Win Prizes
    • Facebook
    • Twitter
    • LinkedIn
    • Pinterest
    Don't Miss
    Cryptocurrencies

    Meet India’s crypto investors

    November 28, 202119 Mins Read

    It was in 2018 that Akshat Gupta first decided to invest in the highly valued cryptocurrency.…

    Metaverse Riches Lure One of South Korea’s Oldest Conglomerates

    December 13, 2021

    The Unhosted Crypto Wallet Rule Is Back

    January 30, 2022

    Crypto Industry Masters Washington’s ‘Revolving Door’ as Its Influence Grows

    February 23, 2022

    Subscribe to Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Crypto news & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Privacy Policy
    • About Us
    • Donate to RareHippo
    • Get In Touch
    • NewsWire
    © 2023 RareHippo. Powered by 8 Dimensions

    The content of this website is for informational purposes only and is not intended as a substitute for investment or financial advice.

    Type above and press Enter to search. Press Esc to cancel.