Quote from: temple on December 02, 2021, 07:46:09 PM

Quote from: konok99003 on December 02, 2021, 04:24:52 PM

Cryptocurrencies including bitcoin are reaching all-time high prices, but Wall Street is sending shares of cryptocurrency leader Coinbase lower after its Tuesday earnings and weak quarter for crypto trading.

Coinbase reported monthly transacting users fell from the prior period, dropping to 7.4 million from 8.8 million in the second quarter, though up from 6.1 million a year earlier. Trading volume fell to $327 billion from $462 billion in the previous quarter and it disappointed the street on quarterly revenue.

Losses narrowed after a Tuesday after-hours decline as steep as 13%, and some on Wall Street remain bullish on the company’s outlook with price targets as high as $500 — its shares were trading below $350 on Wednesday.

“We don’t think the sequential decline in revenue should have been a surprise,” BTIG equity analyst Mark Palmer told CNBC on Wednesday. He expects this quarter to be Coinbase’s biggest quarter ever after the slowdown in trading over the summer

Thanks for sharing that data in a condense way, interesting to read. Now that these numbers are still not shockingly bad, they are yet significant. Dropping 1.4 million monthly transacting users is no joke, neither in relative nor in absolute terms. Damn I would love to know the statistics of Binance to have a serious comparison. As you quoted Palmer, I also think that Coinbase will play an important role for many many years to come.

Yeah, hope that Binance will released the same numbers too.

But I would interpret the data as like this: maybe speculators and traders opted not to play in the market in this uncertainty (because of the new strain), and then put all their crypto in a wallet that they have total control.

So I guess the data can be two fold and it doesn't mean that people are losing interest in crypto.