Bitcoin
Bitcoin (BTC)
$50,902.00 -1.14089
Bitcoin price
Ethereum
Ethereum (ETH)
$2,907.18 -0.82235
Ethereum price
BNB
BNB (BNB)
$368.48 5.32622
BNB price
Solana
Solana (SOL)
$101.76 -4.1935
Solana price
XRP
XRP (XRP)
$0.5405850 -2.49044
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000094 -2.49658
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000011 -3.8042
Pepe price
El Hippo
El Hippo (HIPP)
$0.0000000058720 -0.70334
El Hippo price
Bonk
Bonk (BONK)
$0.0000114 -5.70411
Bonk price
Bitcoin
Bitcoin (BTC)
$50,902.00 -1.14089
Bitcoin price
Ethereum
Ethereum (ETH)
$2,907.18 -0.82235
Ethereum price
BNB
BNB (BNB)
$368.48 5.32622
BNB price
Solana
Solana (SOL)
$101.76 -4.1935
Solana price
XRP
XRP (XRP)
$0.5405850 -2.49044
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000094 -2.49658
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000011 -3.8042
Pepe price
El Hippo
El Hippo (HIPP)
$0.0000000058720 -0.70334
El Hippo price
Bonk
Bonk (BONK)
$0.0000114 -5.70411
Bonk price
Bitcoin
Bitcoin (BTC)
$50,902.00 -1.14089
Bitcoin price
Ethereum
Ethereum (ETH)
$2,907.18 -0.82235
Ethereum price
BNB
BNB (BNB)
$368.48 5.32622
BNB price
Solana
Solana (SOL)
$101.76 -4.1935
Solana price
XRP
XRP (XRP)
$0.5405850 -2.49044
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000094 -2.49658
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000011 -3.8042
Pepe price
El Hippo
El Hippo (HIPP)
$0.0000000058720 -0.70334
El Hippo price
Bonk
Bonk (BONK)
$0.0000114 -5.70411
Bonk price
Bitcoin
Bitcoin (BTC)
$50,902.00 -1.14089
Bitcoin price
Ethereum
Ethereum (ETH)
$2,907.18 -0.82235
Ethereum price
BNB
BNB (BNB)
$368.48 5.32622
BNB price
Solana
Solana (SOL)
$101.76 -4.1935
Solana price
XRP
XRP (XRP)
$0.5405850 -2.49044
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000094 -2.49658
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000011 -3.8042
Pepe price
El Hippo
El Hippo (HIPP)
$0.0000000058720 -0.70334
El Hippo price
Bonk
Bonk (BONK)
$0.0000114 -5.70411
Bonk price

Coinbase shares hit all-time low amid projected revenue drop

coinbase-shares-hit-all-time-low-amid-projected-revenue-drop
Edited by
News
Coinbase shares hit all-time low amid projected revenue drop

Shares of Coinbase, a US-based crypto platform trading on Nasdaq under ticker COIN, reached an all-time low of $40.2 amid Brian Armstrong’s projection of a revenue drop.

Last week, CEO Brian Armstrong said he anticipated Coinbase 2022 earnings to be lower than half the 2021 revenue. The market reacted in a drop that led to an all-time low on Dec. 12.

Coinbase shares hit all-time low amid projected revenue drop - 1
Coinbase shares price history. Source: Google Finance.

The price lost 60% since August when Coinbase stock saw a brief surge after announcing a collaboration with BlackRock. The latter partnered with Coinbase Prime to provide institutional investors with access to BTC custody and trading via its Aladdin platform. 

Coinbase shares lost 86% since its IPO in April 2021. It has been among the companies forced to lay off staff this year, losing around 18% of personnel along with OpenSea (21%) and Kraken (32%).  

Ark Invest acquires Coinbase shares despite the bear market

However, Ark Invest, led by Cathie Wood, appears keen to catch knives amidst the commotion as a crypto-bullish company. The technology-oriented money manager purchased 78,962 COIN shares at around $40 each, worth around $3 million in total.

Following the purchase, Ark Invest’s stake in Coinbase comprised 5.6 million shares held by it.

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