A new animal-based memecoin is surging to start the week, as Coinbase adds the crypto asset to its listing roadmap. Moo Deng (MOODENG), a crypto asset honoring the baby hippo who became an international sensation, soared 108% as the top US crypto exchange made the announcement. The Solana-based memecoin is now up 59% at time […]
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MicroStrategy saw more trading volumes than the US spot Bitcoin ETFs combined as its shares tanked over 25% on Nov. 21.
Trading volumes for the “Bitcoin Industrial Complex” — the United States spot Bitcoin exchange-traded funds (ETFs) and stocks like MicroStrategy (MSTR) and Coinbase (COIN) has hit a new record high — reaching 70 billion on Nov. 21 as Bitcoin rallied above $98,300.
It smashed the previous record of $55 billion set the day before when MSTR was the second most-traded stock in the US, according to Bloomberg ETF analyst Eric Balchunas, citing data from Bloomberg Intelligence.
”BITSANITY,” Balchunas said of the eye-popping figures.
MSTR also accounted for the bulk of the day’s trading volume as its shares tanked over 25% from its highest point of $536.7 to $397.28 when the closing bell rang on Nov. 21.
Source: Eric Balchunas
The record was set as Bitcoin rallied 5% to notch a new all-time high of $98,311, CoinGecko data shows.
Bitcoin has slightly retraced to $98,075 but is less than 2% from breaching the $100,000 milestone.
Related: A perfect storm is brewing for Bitcoin
It comes as the US spot Bitcoin ETFs surpassed $100 billion worth of assets on Nov. 21.
Coinbase stock COIN hit a new 52-week high of just over $328 on Nov. 11, driven by a surge in bitcoin’s value and overall market enthusiasm. Donald Trump-Inspired Enthusiasm On Nov. 11, the stock of the cryptocurrency exchange Coinbase (COIN) hit a new 52-week high of just over $328. The stock’s remarkable run, which started […]
Traders have seized on optimism that the more pro-crypto Republicans could also win a majority in Congress after the party won the Senate and the White House.
United States crypto stocks ended the trading day on massive gains — most at double-digits — after a sweeping election win by Donald Trump and a new Bitcoin all-time high.
Crypto exchange Coinbase Global Inc (COIN), one of the biggest donors in the election cycle, saw the biggest gain on Nov. 6, closing up 31.11% at $254.3, now up 62.1% so far this year, according to Google Finance.
The popular trading house Robinhood Markets Inc (HOOD) also jumped 19.6% on the day, as did Bitcoin (BTC) miner MARA Holdings Inc (MARA) — formerly Marathon Digital. The BTC buying MicroStrategy Inc (MSTR) also closed up over 13%.
Bidders have pushed the price for a rare US dime to a staggering $250,000 – and they’re likely just getting started. If past is prologue, the online auction for this 1975 dime will close at more than half a million dollars when it ends on October 27th. The rare dime is missing the letter “S”, […]
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U.S. equities have joined the global downturn, following sharp declines across Asia and Europe, with Japan’s Nikkei suffering significant losses. By 11:15 a.m. EDT on Monday, the five major U.S. stock indices had fallen between 2.5% and 4.5%. This market turmoil has extended to crypto-related stocks such as Microstrategy’s MSTR and Coinbase’s COIN. The primary […]
Coinbase has marked its third consecutive quarter in the black, with its net revenue and trading volumes jumping 108% and 145%, respectively, from the prior year.
Coinbase shares rose 3.2% after hours following its latest Q2 results filing — reporting $1.4 billion in revenue in Q2 along with a hefty year-on-year increase in crypto trading volumes.
The crypto exchange reported $266 million in consumer and institutional trading volumes, up from the prior year period and in line with analyst estimates, though it was a considerable drop from the $312 billion reported in Q1.
When it came to revenue, Coinbase gained the most ground from subscription and services revenue, which includes stablecoin revenue, blockchain rewards and fees. This marked a 17% increase from Q1 and nearly doubling from Q2 2023.
During the widespread downturn in the cryptocurrency markets, publicly listed companies within the sector such as Coinbase, Microstrategy, and bitcoin mining enterprises have experienced notable declines in their stock values. Shares of Coinbase have fallen by over 21% since last month, and in the same period, Marathon Digital Holdings’ shares have dropped more than 28% […]
Crypto analyst Will Clemente believes Coinbase is “the biggest kind of venture style bet in public markets” since Tesla.
Coinbase (COIN) shares have plummeted 16% over the past five days, mirroring broader volatility in the crypto and stock markets, though one analyst suggests that investors may not be seeing the potential buying opportunity.
“The street isn’t really pricing in the crypto native revenue that I think a lot of the crypto natives understand,” crypto analyst Will Clemente said in a recent Unchained Crypto podcast.
“I think Coinbase is the biggest kind of venture-style bet in public markets since maybe Tesla about five years ago,” Clemente added.
On Thursday, Ark Invest parted ways with 133,533 Coinbase shares from its Ark Innovation exchange-traded fund (ARKK) and also disposed of 96,003 Robinhood shares from the ARKW ETF. Following these divestments, Ark Invest acquired Reddit shares for both the ARKW and ARKF ETFs. Ark’s Portfolio Pivot: COIN, HOOD Out, RDDT In This week, Cathie Wood‘s […]