Crypto traders are scarce, and that's likely to spell trouble for Coinbase's third-quarter report, Mizuho said on Wednesday.
Crypto traders are scarce, and that’s likely to spell trouble for Coinbase ‘s third-quarter report, Mizuho said on Wednesday.
“We expect dwindling volumes…combined with an expected drought in retail trading to meaningfully weigh on 3Q revenue,” the analysts wrote. Coinbase stock has benefited from the price resurgence, more than doubling this year to about $72.50. But apart from that, Coinbase has been a casualty of diminished interest from retail investors. Token prices, while up for the year, have stagnated in a range for the last several months. Crypto-market makers have pulled back in part because of regulatory issues, leading to worse spreads and prices for retail traders.
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