Crypto Crisis Brings Big Losses to Coinbase | news

High inflation, higher interest rates and the generally tense geopolitical situation have affected cryptocurrencies for months. Coinbase also feels this with its latest quarterly figures.

Cryptocurrencies have long suffered from high volatility and the pressure to sell is immense. The cyber currency platform Coinbase feels this development very closely and reports corresponding quarterly figures.

As Coinbase announced, both transaction revenue and net revenue declined significantly in the most recent quarter: Transaction revenue fell 64 percent year-over-year to $365.9 million. Sales fell 53 percent to $576.4 million.

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In the same quarter last year, Coinbase reported a profit of $406.1 million. According to the information, in the most recent three-month period there was a significant deficit of $544.6 million in the books. Cryptocurrencies are considered very risky investments due to their high volatility.

Coinbase stock falls back to yearly lows

Coinbase stock is unlikely to recover from the significant decline of 2022 and is currently falling back towards year lows of around $41. MACD (Momentum) is also turning down again, supporting the downtrend. The technical situation will improve again only if the downward trend line is exceeded by around $74.

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