Monitors display Coinbase signage during the company's initial public offering (IPO) at the Nasdaq MarketSite in New York, on Wednesday, April 14, 2021. Coinbase Wednesday reported weaker-than-expected third-quarter results, weighed down by muted trading in the cryptocurrency market.The stock fell more than 4% in extended trading.Here's what the company reported for the third quarter compared with what Wall Street expected, according to a survey of analysts by LSEG:Earnings per share: 28 cents vs. 41 cents ...

Revenue and Net Income - Net revenue for the three and nine months ended September 30, 2024 was $1.1 billion and $4.1 billion, respectively, with net income of $75.5 million and $1.3 billion[159] - Net revenue for the three months ended September 30, 2024, was $1,128.6 million, representing 94% of total revenue, compared to $623.0 million (92%) in the same period in 2023[194] - Total revenue for the nine months ended September 30, 2024, was $4,292.4 million, a 99% increase from $2,154.6 million in the same period in 2023[194] - Net income for the nine months ended September 30, 2024, was $1,287.9 million, compared to a net loss of $178.6 million in the same period in 2023[194] - Total revenue increased by $2.1 billion for the nine months ended September 30, 2024, contributing to higher operating cash flow[251] Trading Volume and User Growth - Monthly Transacting Users (MTUs) increased by 16% to 7.8 million for the three months ended September 30, 2024, compared to 6.7 million in 2023[161] - Trading Volume for the three and nine months ended September 30, 2024 was $185 billion and $723 billion, respectively, representing a 143% and 131% increase compared to 2023[161] - Consumer Trading Volume increased by 209% to $34 billion for the three months ended September 30, 2024, while Institutional Trading Volume grew by 132% to $151 billion[167] - Consumer transaction revenue for the nine months ended September 30, 2024, rose by 141% to $2,083.2 million, compared to $865.1 million in 2023, due to a 176% increase in consumer trading volume[197] - Institutional transaction revenue for the nine months ended September 30, 2024, increased by 282% to $204.3 million, compared to $53.4 million in 2023, driven by a 123% increase in institutional trading volume[197] Crypto Asset Performance - Bitcoin accounted for 37% of Trading Volume for the three months ended September 30, 2024, down from 38% in 2023, while Ethereum's share decreased from 19% to 15%[167] - Crypto Asset Volatility increased by 78% and 36% for the three and nine months ended September 30, 2024, respectively, contributing to higher Trading Volume[168] - Transaction revenue from Bitcoin decreased to 35% for the three months ended September 30, 2024, compared to 37% in 2023, while Ethereum's share dropped from 18% to 16%[167] - Losses on crypto assets held for investment, net were $120.5 million for the three months ended September 30, 2024, due to the remeasurement of the fair value of crypto assets, mainly Bitcoin and Ethereum[221][222] - Gains on crypto assets held for operations, net were $(142) thousand for the three months ended September 30, 2024, resulting from net receipts of crypto assets during a period of rising crypto asset prices[214] - A hypothetical 50% increase or decrease in crypto asset prices as of September 30, 2024, would result in a $630.4 million impact on the value of crypto assets held for investment[263] Subscription and Services Revenue - Subscription and services revenue includes stablecoin revenue from USDC, blockchain rewards, interest and finance fee income, and custodial fee revenue[173] - Subscription and services revenue increased by $221.7 million (66%) for the three months and $634.6 million (62%) for the nine months ended September 30, 2024, driven by growth in stablecoin revenue, blockchain rewards, and custodial fee revenue[199] - Stablecoin revenue grew by $74.5 million (43%) for the three months and $161.9 million (31%) for the nine months, primarily due to higher on-platform USDC balances and increased USDC market capitalization[199] - Blockchain rewards revenue increased by $80.4 million (108%) for the three months and $255.1 million (108%) for the nine months, driven by higher average prices for Ethereum and Solana, and increased native units staked[199] - Custodial fee revenue rose by $15.9 million (101%) for the three months and $48.7 million (98%) for the nine months, due to growth in average crypto assets held under custody of $62.4 billion and $72.6 billion[199] Expenses - Transaction expenses as a percentage of revenue vary based on revenue composition, with blockchain rewards increasing transaction expenses as a percentage of net revenue[179] - Technology and development expenses include personnel-related costs for platform maintenance, new product development, and website hosting[180] - Transaction expense grew by $81.2 million (90%) for the three months and $285.5 million (97%) for the nine months, primarily due to higher blockchain rewards fees and payment processing fees[204][207] - Technology and development expenses increased by $54.7 million (17%) for the three months and $98.1 million for the nine months, driven by higher personnel-related expenses and website hosting costs[208] - Sales and marketing expenses rose by $86.6 million (111%) for the three months and $202.6 million (90%) for the nine months, primarily due to higher USDC rewards expense and brand spend[204] - General and administrative expenses increased by $77.8 million (31%) for the three months and $177.4 million (23%) for the nine months, reflecting higher personnel-related costs[204] - Sales and marketing expenses increased by $86.6 million (111%) for the three months ended September 30, 2024, compared to 2023, driven by higher digital advertising spend and USDC rewards payouts[209][211] - USDC rewards payouts increased by $50.9 million (474%) for the three months ended September 30, 2024, compared to 2023, due to higher reward rates and on-platform USDC balances[209][211] - General and administrative expenses increased by $77.8 million (31%) for the three months ended September 30, 2024, compared to 2023, primarily due to higher personnel-related and customer support costs[212] - Customer support costs increased by $9.3 million (24%) for the three months ended September 30, 2024, compared to 2023, driven by increased capacity needs following higher trading volumes[212] Operating and Net Income - Operating income for the nine months ended September 30, 2024, was $1,273.1 million, a significant improvement from an operating loss of $277.3 million in the same period in 2023[194] - Gains on crypto assets held for operations, net, were $55.5 million for the nine months ended September 30, 2024, compared to no gains in the same period in 2023[194] - Adjusted EBITDA for the three months ended September 30, 2024, was $448,624 thousand, a significant increase from $178,332 thousand in 2023[234] - Adjusted EBITDA for the nine months ended September 30, 2024, reached $2,058,468 thousand, up from $653,696 thousand in 2023[234] Cash and Debt - As of September 30, 2024, the company held $7,723,806 thousand in cash and cash equivalents, a substantial increase from $5,139,351 thousand as of December 31, 2023[237] - The company's total USDC holdings as of September 30, 2024, were $871,425 thousand, compared to $576,028 thousand as of December 31, 2023[237] - On March 18, 2024, the company issued $1.3 billion in aggregate principal amount of convertible senior notes maturing on April 1, 2030[238] - As of September 30, 2024, the company held $4.3 billion in aggregate principal amount of debt[238] - Net cash provided by operating activities for the nine months ended September 30, 2024, increased by $664.1 million to $1,592,226, compared to $928,137 in 2023[251] - Net cash used in investing activities for the nine months ended September 30, 2024, increased by $147.9 million to $232,969, compared to $85,117 in 2023[253] - Net cash provided by financing activities for the nine months ended September 30, 2024, increased by $2.4 billion to $682,663, compared to a net cash used of $1,734,128 in 2023[254] - Customer custodial cash increased by $798.9 million due to higher trading volume for the nine months ended September 30, 2024[254] Derivatives and Financial Instruments - Gross Financing Derivatives as of September 30, 2024, totaled $265,259, compared to $62,980 as of December 31, 2023[270] - Gross Financing Derivatives gains for the three months ended September 30, 2024, were $25,378, compared to a loss of $325 in the same period in 2023[271] - Gross Financing Derivatives losses for the nine months ended September 30, 2024, were $56,529, compared to gains of $6,677 in the same period in 2023[271] - Gross Other Derivatives exposures as of September 30, 2024, were $46,523, down from $65,082 as of December 31, 2023[274] - Gains on Gross Other Derivatives for the three months ended September 30, 2024, were $4,712, compared to $12,639 in the same period in 2023[274] - Losses on Gross Other Derivatives for the nine months ended September 30, 2024, were $9,921, compared to gains of $13,738 in the same period in 2023[274] - A hypothetical 50% change in the fair value of Gross Financing Derivatives would not materially impact the company's financial statements[271] - A hypothetical 10% change in the fair value of Gross Other Derivatives would not materially impact the company's financial statements[274] Other Financial Metrics - The company generated 86% of total revenue in the U.S. for the three months ended September 30, 2024, compared to 90% in the same period in 2023[196] - Other revenue for the nine months ended September 30, 2024, increased by 48% to $196.2 million, compared to $132.7 million in the same period in 2023[196] - Other revenue increased by $25.5 million (50%) for the three months and $63.5 million for the nine months, reflecting higher average corporate balances and increased earned interest rates[200][202] - Other operating (income) expense, net decreased by $12.1 million (344%) for the three months ended September 30, 2024, compared to 2023, due to gains on certain derivatives in 2023 that did not recur in 2024[217] - Interest expense decreased by $0.3 million (1%) for the three months ended September 30, 2024, compared to 2023, with no material changes noted[220] - The change in (Benefit from) provision for income taxes for the three months ended September 30, 2024, was $(43,840) thousand, a decrease of 119% compared to 2023, primarily due to tax benefits from stock-based compensation[225] - For the nine months ended September 30, 2024, the provision for income taxes increased by $189,010 thousand, a 607% rise compared to 2023, driven by higher pretax income partially offset by stock-based compensation tax benefits[225] - The company authorized a share repurchase program of up to $1.0 billion of Class A common stock in October 2024[248] - Effective January 1, 2024, the company adopted ASU 2023-08, resulting in a fair value adjustment of $739.5 million on crypto assets held at that time[240] - The company's crypto assets held for operations are considered less liquid than cash and cash equivalents, particularly during market instability[242] - Crypto assets borrowed as of September 30, 2024, totaled $252.9 million[261] - Crypto assets held for investment as of September 30, 2024, amounted to $1.3 billion[261] - Restructuring expenses were immaterial for the three months ended September 30, 2024, compared to $142.6 million for the nine months ended September 30, 2023, related to workforce reduction[216]

[Shareholder Letter Overview](index=1&type=section&id=Shareholder%20Letter%20Overview) [Q3 2024 Performance Summary](index=1&type=section&id=Q3%202024%20Performance%20Summary) Coinbase achieved its seventh consecutive quarter of positive Adjusted EBITDA, reporting $1.2 billion revenue and $75 million net income Q3 2024 Key Financial Metrics | Metric | Value (USD) | | :--- | :--- | | Total Revenue | $1.2 billion | | Net Income | $75 million | | Adjusted EBITDA | $449 million | - Despite softer market conditions, the company saw growth in average native units for staking, on-platform USDC, and custody, which supports long-term revenue diversification[2](index=2&type=chunk) - Significant progress was made in advancing foundational building blocks for user onboarding, particularly through integrating stablecoins and growing the Base network, which became the **1 L2 in transactions and total value locked**[7](index=7&type=chunk) - The company is actively engaged in policy efforts ahead of the 2024 elections, supporting organizations like Fairshake and StandWithCrypto to advocate for pro-crypto legislation, and is prepared to work with either administration[8](index=8&type=chunk) [Chapter 1: Q3 2024 Financial Performance](index=3&type=section&id=Chapter%201%3A%20Q3%202024%20Financial%20Performance) [Financial Highlights](index=3&type=section&id=1.1%20Financial%20Highlights) Coinbase achieved its 7th consecutive quarter of positive Adjusted EBITDA at $449 million, with $1.2 billion revenue and $75 million net income Q3 2024 Financial Summary | Metric | Value (USD) | Change (Q/Q) | | :--- | :--- | :--- | | Total Revenue | $1.2 billion | -17% | | Transaction Revenue | $573 million | -27% | | Subscription & Services Revenue | $556 million | -7% | | Net Income | $75 million | N/A | | Adjusted EBITDA | $449 million | N/A | | $USD Resources (End of Q3) | $8.2 billion | +$417 million | - Net income of **$75 million** included **$121 million** in pre-tax unrealized losses on the company's crypto asset investment portfolio due to lower crypto prices at the end of Q3 compared to Q2[9](index=9&type=chunk)[15](index=15&type=chunk) - In October 2024, the Board of Directors authorized a share repurchase program for up to **$1.0 billion** of Class A common stock[9](index=9&type=chunk)[46](index=46&type=chunk) [Revenue Analysis](index=4&type=section&id=1.2%20Revenue%20Analysis) Total revenue declined due to softer market conditions, with transaction revenue falling 27% Q/Q to $573 million and subscription revenue decreasing 7% Q/Q to $556 million [Transaction Revenue](index=4&type=section&id=1.2.1%20Transaction%20Revenue) Q3 transaction revenue was $573 million, a 27% decrease Q/Q, driven by declines in both consumer and institutional trading volumes amid lower crypto market volatility Transaction Revenue Breakdown ($M) | Category | Q2'24 | Q3'24 | Change (Q/Q) | | :--- | :--- | :--- | :--- | | Consumer, net | 664.8 | 483.3 | -27% | | Institutional, net | 63.6 | 55.3 | -13% | | Other transaction revenue | 52.5 | 34.0 | -35% | | **Total Transaction Revenue** | **780.9** | **572.5** | **-27%** | - Total trading volume was **$185 billion**, down **18% Q/Q**, mirroring the decline in the broader US spot market. This was driven by a **10% decrease** in average crypto market capitalization and a **5% decline** in crypto asset volatility[20](index=20&type=chunk)[21](index=21&type=chunk) - Other transaction revenue fell **35% Q/Q**, primarily due to lower Base sequencer fee revenue, even as the number of transactions on Base increased by **55% Q/Q**[25](index=25&type=chunk) [Subscription and Services Revenue](index=5&type=section&id=1.2.2%20Subscription%20and%20Services%20Revenue) Q3 subscription and services revenue was $556 million, down 7% Q/Q, as lower crypto asset prices offset growth in native units, though stablecoin revenue grew 3% Q/Q Subscription and Services Revenue Breakdown ($M) | Category | Q2'24 | Q3'24 | Change (Q/Q) | | :--- | :--- | :--- | :--- | | Stablecoin revenue | 240.4 | 246.9 | +3% | | Blockchain rewards | 185.1 | 154.8 | -16% | | Interest and finance fee income | 69.4 | 64.0 | -8% | | Custodial fee revenue | 34.5 | 31.7 | -8% | | **Total Sub. & Services Revenue** | **599.0** | **556.1** | **-7%** | - Stablecoin revenue growth was driven by a **7% Q/Q increase** in average on-platform USDC balances to **$6.6 billion** and a **5% Q/Q rise** in average USDC market capitalization[28](index=28&type=chunk) - Blockchain rewards revenue declined **16% Q/Q** primarily due to lower average prices for assets like ETH and SOL, despite an increase in average native units staked[30](index=30&type=chunk) [Expense Analysis](index=6&type=section&id=1.3%20Expense%20Analysis) Total operating expenses decreased 6% Q/Q to $1.0 billion, driven by lower transaction expenses, while other operating expenses increased due to stock-based compensation and headcount growth Operating Expenses Breakdown ($M) | Category | Q2'24 | Q3'24 | Change (Q/Q) | | :--- | :--- | :--- | :--- | | Transaction expense | 191.5 | 171.8 | -10% | | Technology and development | 364.3 | 377.4 | +4% | | Sales and marketing | 165.3 | 164.8 | ~0% | | General and administrative | 320.1 | 330.4 | +3% | | **Total Operating Expenses** | **1,106.5** | **1,035.7** | **-6%** | - The increase in Technology & Development and General & Administrative expenses was primarily due to higher stock-based compensation, which has historically been recognized on a non-linear schedule[36](index=36&type=chunk) - The company ended Q3 with **3,672 full-time employees**, representing a **5% increase** from the previous quarter[34](index=34&type=chunk)[35](index=35&type=chunk) [Capital and Liquidity](index=7&type=section&id=1.4%20Capital%20and%20Liquidity) Coinbase ended Q3 with a strong capital position, holding $8.2 billion in USD resources, an increase of $417 million Q/Q, with total available resources of $9.5 billion - Ended Q3 with **$8.2 billion** in $USD resources, an increase of **5% Q/Q**, providing net unencumbered liquid resources[45](index=45&type=chunk) - A share repurchase program of up to **$1.0 billion** was authorized in October 2024, with no expiration date[46](index=46&type=chunk) - Total available resources, including **$1.3 billion** in crypto assets held for investment, totaled **$9.5 billion** at the end of Q3, up from **$9.1 billion** at the end of Q2[48](index=48&type=chunk) [Chapter 2: Business Progress and Strategy](index=8&type=section&id=Chapter%202%3A%20Business%20Progress%20and%20Strategy) [Driving Revenue](index=9&type=section&id=2.1%20Driving%20Revenue) Coinbase expanded revenue streams through new US crypto futures, growing its International Exchange to 89 perpetual contracts, and solidifying its role as primary custodian for BTC and ETH ETFs - Expanded US derivatives offerings with new margin futures beyond BTC and ETH, onboarding over **100,000 users** to Coinbase Financial Markets (CFM) to date[51](index=51&type=chunk) - Coinbase International Exchange grew its offering to **89 perpetual contracts**, covering over **90% of global perpetual futures volumes**[51](index=51&type=chunk) - Serves as the primary custodian for **17 of the 20 BTC and ETH ETFs**, which helped drive native unit growth in custody services[52](index=52&type=chunk) - Achieved revenue growth in international markets expanded into in 2022-2023, including Singapore, Canada, Australia, and Brazil[53](index=53&type=chunk) [Building Crypto Utility](index=9&type=section&id=2.2%20Building%20Crypto%20Utility) The company enhanced crypto utility by driving stablecoin adoption (USDC market cap grew 11% to $36 billion), launching cbBTC, and growing the Base network to become the 1 L2 by transactions and TVL - USDC's market cap grew by **$3.5 billion (11%)** to **$36 billion** in Q3, making it the fastest-growing major USD stablecoin in 2024[58](index=58&type=chunk) - Introduced Coinbase Wrapped BTC (cbBTC), a fully backed asset that allows users to utilize their Bitcoin in DeFi and other onchain applications on networks like Ethereum and Base[60](index=60&type=chunk) - The Base network became the **1 L2** in both transactions and total value locked, with transactions growing **55% Q/Q** while median fees remained under **$0.01**[61](index=61&type=chunk) - Launched Basenames to simplify wallet addresses, with **450,000 names** registered in the first two months[62](index=62&type=chunk) [Chapter 3: Regulatory and Legal Update](index=10&type=section&id=Chapter%203%3A%20Regulatory%20and%20Legal%20Update) [US Elections and Regulatory Landscape](index=10&type=section&id=3.1%20US%20Elections%20and%20Regulatory%20Landscape) Coinbase highlights crypto's growing influence in the 2024 US elections, supporting advocacy for regulatory clarity and remaining optimistic about pro-crypto legislation in 2025 - Crypto has become a significant issue in the 2024 US elections, with both presidential candidates and other politicians adopting more favorable stances[63](index=63&type=chunk)[64](index=64&type=chunk) - Continues to support organizations like Fairshake (a large non-partisan PAC) and StandWithCrypto (a grassroots group with approx. **1.8 million advocates**) to push for clear regulations[64](index=64&type=chunk) - The company believes the odds for meaningful, pro-crypto regulation are stronger than ever and is prepared to work with either administration in 2025[65](index=65&type=chunk) [Litigation](index=11&type=section&id=3.2%20Litigation) The ongoing SEC litigation is in the discovery phase, expected to continue through Q2 2025, with Coinbase confident in its legal arguments for regulatory clarity - The SEC litigation's discovery phase is projected to extend through **Q2 2025**[66](index=66&type=chunk) - The company remains confident in its legal arguments and sees the court process as a key way to achieve industry-wide regulatory clarity[66](index=66&type=chunk) [Chapter 4: Q4 2024 Outlook](index=11&type=section&id=Chapter%204%3A%20Q4%202024%20Outlook) [Financial Guidance](index=11&type=section&id=4.1%20Financial%20Guidance) For Q4 2024, Coinbase expects Subscription and Services revenue between $505-$580 million, combined T&D and G&A expenses of $690-$730 million, and October transaction revenue of $190 million Q4 2024 Outlook | Metric | Outlook (USD) | | :--- | :--- | | Subscription and Services Revenue | $505 - $580 million | | Technology & Development + General & Administrative Expenses | $690 - $730 million | | Sales and Marketing Expenses | $170 - $220 million | | Transaction Expenses | Mid-teens as a % of net revenue | - Estimated total transaction revenue for October 2024 is approximately **$190 million**[68](index=68&type=chunk) - The Q4 Subscription and Services revenue forecast reflects headwinds from a **10% decline** in the average price of Ethereum in October compared to the Q3 average and market expectations of interest rate cuts[69](index=69&type=chunk) - The company has updated its stock-based compensation vesting schedule for new awards to achieve linear expense recognition, which is expected to result in a modest Q/Q decline in stock-based compensation expense[71](index=71&type=chunk) [Financial Statements and Supplemental Information](index=13&type=section&id=Financial%20Statements%20and%20Supplemental%20Information) [Non-GAAP Financial Measures](index=13&type=section&id=Non-GAAP%20Financial%20Measures) This section details the company's use of Adjusted EBITDA, a non-GAAP financial measure, which management uses to evaluate operating performance by excluding non-cash or non-recurring items, with a revised definition adopted in Q1 2024 - Adjusted EBITDA is used by management for internal planning and to evaluate ongoing operations, as it excludes items that may not correlate to underlying business performance[76](index=76&type=chunk) - Key exclusions from Adjusted EBITDA include stock-based compensation, depreciation & amortization, interest expense, income taxes, and gains/losses on crypto assets held for investment[78](index=78&type=chunk)[79](index=79&type=chunk) - In Q1 2024, the definition of Adjusted EBITDA was revised to adjust for 'other (income) expense, net' in total and to change the treatment of gains/losses on crypto assets following the adoption of ASU 2023-08[83](index=83&type=chunk) [Condensed Consolidated Financial Statements](index=15&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The report includes unaudited condensed consolidated financial statements for September 30, 2024, covering Balance Sheets, Statements of Operations, and Statements of Cash Flows Condensed Balance Sheet Highlights (As of Sep 30, 2024) | Account | Value (USD Thousands) | | :--- | :--- | | Total Assets | $290,558,608 | | Total Liabilities | $281,830,486 | | Total Stockholders' Equity | $8,728,122 | Condensed Statement of Operations (Three Months Ended Sep 30, 2024) | Account | Value (USD Thousands) | | :--- | :--- | | Total Revenue | $1,205,193 | | Total Operating Expenses | $1,035,680 | | Operating Income | $169,513 | | Net Income | $75,495 | - The Statements of Cash Flows show net cash provided by operating activities was **$1.59 billion** for the nine months ended September 30, 2024[88](index=88&type=chunk)

NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Coinbase Global, Inc. (NASDAQ: COIN) between April 14, 2021 and July 25, 2024, both dates inclusive (the “Class Period”), of the important November 12, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased Coinbase securities during the Class Period you may be entitled to compensation without payment of any out of po ...

Coinbase Global Inc. (COIN) is expected to report an improvement in its top and bottom lines when it reports third-quarter 2024 results on Oct. 30, after the closing bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for COIN’s third-quarter revenues is pegged at $1.3 billion, indicating 87.2% growth from the year-ago reported figure.The consensus estimate for earnings is pegged at 39 cents per share. The Zacks Consensus Estimate for COIN’s third-quart ...

In its upcoming report, Coinbase Global, Inc. (COIN) is predicted by Wall Street analysts to post quarterly earnings of $0.39 per share, reflecting an increase of 4000% compared to the same period last year. Revenues are forecasted to be $1.26 billion, representing a year-over-year increase of 87.2%. The consensus EPS estimate for the quarter has undergone an upward revision of 17.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed ...

SAN DIEGO, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Coinbase Global, Inc. (NASDAQ: COIN) publicly traded securities between April 14, 2021 and July 25, 2024, all dates inclusive (the “Class Period”), have until November 12, 2024 to seek appointment as lead plaintiff of the Coinbase class action lawsuit. Captioned Castle v. Coinbase Global, Inc., No. 24-cv-04850 (E.D. Pa.), the Coinbase class action lawsuit charges Coinbase as well as certai ...

Core Insights - The article discusses the importance of identifying support and resistance levels in trading, particularly highlighting the $203 level for Coinbase Global Inc. as a significant price point since May [1][2] - It explains the market dynamics where support levels can turn into resistance and vice versa, affecting trading strategies and decisions [1][2] Group 1: Support and Resistance Dynamics - Support levels are characterized by sufficient demand to absorb supply, allowing traders to sell without pushing prices lower [1] - When a support level breaks, it can lead to regret among buyers, who may wait for the price to return to their buying level to exit at breakeven [2] - Conversely, if a resistance level breaks, traders who sold at that level may regret their decision and look to buy back at the same price, potentially creating new support [2] Group 2: Implications for Trading Strategies - Understanding the dynamics of support and resistance levels provides traders with insights on where to place buy and sell orders [2] - The article emphasizes that some price levels are more critical than others, influencing trading behavior and market movements [2]

Stablecoins and the blockchain just got another big supporter.When the crypto bubble burst, it was seen as a sign that the blockchain's days were over. But that couldn't be further from the truth, and fintech company Stripe just signed a $1 billion deal to acquire Bridge, a stablecoin payment developer. In this video, Travis Hoium explains why this is huge for the blockchain and Coinbase (COIN -2.95%).*Stock prices used were end-of-day prices of Oct. 21, 2024. The video was published on Oct. 21, 2024. ...

Coinbase Global Inc (COIN) shares are trading at a premium to the Zacks Financial Transaction Service Market. Its 12-month forward price-to-earnings of 96.60X is much higher than the industry average of 24.12X, the broader sector's 25.59X and the Zacks S&P 500 composite's 22.27X. Its Value Score of F suggests that the stock is not so cheap and indicates a stretched valuation at this moment. COIN, America's largest registered crypto exchange, has a market capitalization of $54.7 billion. The average volume o ...