Crypto Giant Coinbase In The Red: Q1 Losses Mount As COIN Slides 5%
On Thursday, crypto exchange Coinbase (COIN) disclosed its first-quarter (Q1) results, which had impact on its stock valuation. COIN shares ended the session down around 5% at $192 per share following the company’s earnings report. This marked the second consecutive quarterly loss for the exchange, although the quarter itself was characterized by extreme conditions, including […]
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Investing directly in Bitcoin turned out to be a better bet than owning Coinbase stock since its IPO. Buying a Coinbase stock (COIN) to gain indirect exposure in the Bitcoin (BTC) market has been a bad strategy so far compared to simply holding BTC. Notably, COIN is down by nearly 50% to almost $186, if measured from the opening rate on its IPO on April 14, 2021. In comparison, Bitcoin outperformed the Coinbase stock by logging fewer losses in the same period — a little over 30% as it dropped from nearly $65,000 to around $41,700BTC/USD (orange) vs. COIN price (blue). Source:....
The crypto market became red with massive losses on Tuesday. Some analysts speculated that the selling pressure on Bitcoin and Ethereum from FTX’s attempt to raise liquidity against impending insolvency caused this cascade of losses. Some analytics data revealed that FTX liquidated its ETH holdings, which placed selling pressure on Ethereum and extended a sell-off to Bitcoin. However, despite FTX’s actions in the market to withstand the tanking of its token FTT, the asset didn’t recover. Related Reading: These Solana Numbers May Scare Off SOL Investors – Here’s Why As of November 7,....
COIN could tumble to $21 in the next few months amid Coinbase's insider trading allegations and weak technicals. Coinbase (COIN) stock bounced by 4.35% to $57 on July 27 after shedding roughly 20% over the past week. But more downside is likely despite the release of Coinbase's first installment of the Bored Ape Yacht Club-featured movie called The Degen Trilogy.THE DEGEN TRILOGY: PART ONE ⛓️RUN THE CHAIN⛓️ Here's a first look at what we've been building with the community ️ pic.twitter.com/RSV6McnMlw— Coinbase (@coinbase) July 26, 2022 Bad news stalls COIN's rallyOverall, COIN is down....
Based on recent figures, USDT dominance dropped to nearly 60% on August 29. It is the weakest hold Tether has had since March 2023. Related Reading: Insider Trading Suspicions Mount As Crypto Treasuries Balloon – Report Nevertheless, USDT’s market cap is $168 billion and Circle’s USDC is $70.37 billion — both all-time highs. So the […]
Payments giant Mastercard has partnered with cryptocurrency exchange Coinbase to make non-fungible tokens (NFTs) more accessible to everyone. Mastercards can be used to make purchases on Coinbase’s upcoming NFT marketplace.
Mastercard Partners With Coinbase
Payments giant Mastercard and cryptocurrency exchange Coinbase independently announced their partnership Tuesday. Mastercard stated that the company is “Making it easier for everyone to buy NFTs,” elaborating:
We’re excited to announce today that we’re partnering with Coinbase to let....