Coinbase’s trading volume increased due to the rise in cryptocurrency prices

[ad_1]


© Reuters

Investing.com – The recent surge in digital asset prices to all-time highs has led to increased trading volume and participation from retail investors in cryptocurrency exchange Coinbase (NASDAQ:), according to analysts at Goldman Sachs.

In a note to clients on Thursday raising their rating on the stock to “neutral” from “sell,” analysts noted that daily volumes at Coinbase have “reached levels not seen since 2021.” . Analysts now estimated that this trend would increase Coinbase’s annual revenue by 48% and core profit by 114%.

“[O]Their analysis suggests that much of the recent price action has been driven by increased retail participation (we estimate around 20% of volumes), which are generally available at much more attractive purchase prices [Coinbase] (Although we expect some downward pressure on retail take rates due to higher participation in the advanced trade),” analysts at Goldman Sachs said in a note.

It hit a new record high earlier this week, thanks in large part to steady capital inflows into recently approved U.S. spot exchange-traded funds and expectations of an impending “halving.”

The token’s value has increased more than fourfold since its low of around $15,000 in November 2022, following the highly publicized collapse of crypto exchange FTX. Bitcoin also rose by around 150% in 2023.

[ad_2]

Source link

Leave a Reply

Your email address will not be published.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

mother sex videos sexxxymovs.com desipapa,com suzuka-sama's servant hentaimage.net hentai comics in english سكس مصرى خفى justporno.pro تيسا لين goan sexy girls popsexy.net hindi nangi sexy video hot sexy mms video flyporn.info porn mujra xx x vedeos porntubemania.info indaxnxx indian porn vidio asianporntrends.com www.xnxx telugu sixe video hinde pornous.net xvideozhot sex film nepali desisexy.org chut ki chudai hindi me hot babe having sex orangetube.org x videos in india aloha free sex videos chupaporntube.com indion couple xxx video كس نورهان porn-data.info سكس تقبيل xvideos9 indian-porn-movies.net bengali boudi 3x 相互オナニー mushusei.me 旦那不在の3日間パンストtバックで誘惑してくる人妻に即ハメ中出しした件。 saimin manga hentaiheven.net cast aoi by sanagi torajirou