TL;DR
Full Story
Extra excellent news in crypto:
This week Coinbase hit its highest share value in almost two years.
Which can not really feel like huge information, however it’s a constructive indication for the crypto business as an entire.
Right here’s what occurred:
Coinbase posted their earnings report for This fall 2023, and for the primary time in 7 quarters, they…they’d internet earnings…$273M of internet earnings.
Okay, so why is that this a crypto-wide indicator?
Coinbase’s predominant supply of earnings 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 fall 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 trying prefer it could possibly be a stellar Q1 for crypto, and for Coinbase.
Yeehaw!!
