Enter email to get Free News Emails

Coinbase’s Q3 Crypto Trading Volumes To Be Key for Investors, Analysts Say

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

For just $2 per week

AUSTRALIAN NATIONAL REVIEW NEWS SUBSCRIPTION

Join now and receive a free 12-month Subscription to
TruthMed worth $495 USD for free

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

[cs_con]

You are not authorized to access this content

Subscribe now for access articles

Coinbase’s Q3 Crypto Trading Volumes To Be Key for Investors, Analysts Say

By Crypto Global News

The largest U.S. cryptocurrency exchange has said investors should expect lower trading volume in the third quarter, given the decline in crypto prices during that period.

Coinbase Global Inc.’s (COIN) trading volumes and revenue will likely be the focus of investor attention as the cryptocurrency exchange gets set to report third quarter financial results Tuesday after the market close.

“Coinbase’s platform trading volumes are a key metric given the majority of company revenue comes from retail and institutional trading fees,” John Todaro, a research analyst at New York-based Needham & Co. who has a buy recommendation on the stock, told clients in a note.

Coinbase posted trading volume of $462 billion in the second quarter, its second ever as a public company, up from $335 billion in the first quarter. Mizuho Securities expects that figure to fall to about $315 billion in the third quarter.

Coinbase warned in last quarter’s earnings report that monthly transacting users and trading volume would be lower in the third quarter compared to the second quarter, citing lower volume levels stemming from a drop in crypto asset prices in the quarter. “August month-to-date, retail [monthly transacting users] and trading volume levels have slightly improved compared to July levels but remain lower than earlier in the year,” Coinbase wrote. The company also slightly lowered its yearly forecast range for monthly active users to 5.5 million to 8 million from the previous range of 5.5 million to 9 million.

What’s next?

The recent jump in the price of bitcoin could aid Coinbase’s commissions, though Wall Street remains divided on Coinbase’s prospects moving forward. Mizuho Securities analyst Dan Dolev wrote recently that Coinbase’s “over-reliance” on trading commissions leaves the firm exposed to long-term take rate compression and industry competition. Still, about two weeks ago, Dolev boosted his overall revenue estimates for Coinbase’s third quarter, citing higher bitcoin prices and increased volatility. Mizuho has a neutral recommendation on the shares.

At least one analyst is urging investors to overlook quarterly trading fluctuations and focus on the larger industry trends.

“Some of the near-term themes have similarities to HOOD [Robinhood] as trading engagement slowed in the quarter from a record first half, deflating some of the first-half enthusiasm,” JMP Securities’ Devin Ryan told clients in an early October research note. “This near-term focus misses the bigger story around the ongoing rapid evolution of the crypto economy, growing use cases for crypto and Coinbase’s value proposition,” Ryan added.

Meanwhile, Coinbase said last week it was testing a no-fee trading subscription service for users, which could be discussed more on this quarter’s conference call as rivals, including Robinhood, offer commission-free crypto trading.

Overall, analysts are calling for Coinbase to report $1.57 billion in revenues for the third quarter, down from $2.23 billion in the second quarter, and adjusted earnings per share of $1.73, down from $6.42 in the second quarter, according to FactSet.

Coinbase shares were up about 5% to $354 on Monday and are up more than 40% from their reference price of $250. But they are still down from their opening trading price of $381.

A new global currency “Our World Coin” is built to bring our outdated and corrupted political systems into the 21st Century, to restore our battered democracies and national sovereignties, to our nations. Visit Our World Coin for more details.

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Support the ANR from as little as $8 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

Related News

AUSTRALIAN NATIONAL REVIEW NEWS SUBSCRIPTION

Join now and receive a free 12-month Subscription to
TruthMed worth $495 USD for free

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published. Required fields are marked *

We will expose the Covid Crimes of our Governments. Will you help us ?

Play Video

McIntyre Report
Political Talk Show

Episode 161

Episode 161

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

Documentary: Died Suddenly (2022)

How you can advertise on Truthbook.social

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Ukraine. Military Summary And Analysis 23.01.2023

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Nurses Speak Out

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

Watch Full Documentary

Get access to TruthMed- how to save your family and friends that have been vaxx with vaccine detox, & how the Unvaxxed can prevent spike protein infection from the jabbed.

Free with ANR Subscription from $8

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY