TL;DR
Full Story
Extra excellent news in crypto:
This week Coinbase hit its highest share worth in practically two years.
Which can not really feel like huge information, nevertheless it’s a constructive indication for the crypto business as an entire.
Right here’s what occurred:
Coinbase posted their earnings report for This autumn 2023, and for the primary time in 7 quarters, they…they’d internet revenue…$273M of internet revenue.
Okay, so why is that this a crypto-wide indicator?
Coinbase’s foremost supply of revenue comes from transaction charges.
I.e. Persons are shopping for and promoting extra crypto on the platform than they’d been — and this was all over the last three months of 2023…
Which implies we’re simply getting began:
Coinbase’s This autumn earnings report does not even account for the custodian charges for the 8 spot bitcoin ETFs they host, or the 20% rise in crypto market cap for the reason that begin of 2024!
That is wanting prefer it may very well be a stellar Q1 for crypto, and for Coinbase.
Yeehaw!!
Unusual Bitcoin Rally | This Week in Crypto – Feb 19, 2024
.gif?format=1500w&description=Coinbase%20Is%20the%20Canary%20in%20the%20%E2%80%98Crypto%20Market%20Coal%20Mine%E2%80%99%20%E2%80%94%20And%20It%E2%80%99s%20Indicating%20VERY%20Good%20Things){kind=link}