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- 1 COIN stock grew over 30% weekly and 129.02% in the past six months, TradingView data shows.
- 2 Coinbase Global Inc. has a market capitalization of $39.84 Billion, reflecting a decline of 3.49% YoY.
- 3 The global crypto exchange secured 15.46% more revenue than estimated in Q4 2023. Its estimated revenue was $826.10 Million.
Coinbase Global Inc. published its fourth-quarter earnings, and following the release, COIN stock grew significantly. In the last quarter of 2023, the company secured 15.46% more revenue than estimates. Estimated revenue stood at $826.10 Million.
The estimated earnings per share (EPS) was $0.02 and reflected a 4638.26% surprise.
According to the data available on TradingView, 87.46% of COIN shares are free-floating, and 24.09 Million shares are closely held. Coinbase Inc. generates majority of its revenue from its services for retail, interest, blockchain rewards, and custodial fees.
Despite harsh regulatory compliance in the United States, Coinbase generated over 80%- 85% from the region. Regarding price, COIN stock grew over 30% weekly and 129.02% in the past six months.
On February 15, 2024, COIN stock price opened at $162.08, highest traded at $172.82, and closed after adding $5.29 to its trading prices.
Coinbase Global Inc. has a market capitalization of $39.84 Billion, reflecting a decline of 3.49% compared to the market cap in 2023. The company was founded by Brian Armstrong and Fred Ehrsam, among the leading crypto moguls.
Coinbase Inc. is the second most used centralized cryptocurrency exchange, after Binance.
Crypto Market Updates
Earlier this week, the Securities and Exchange Commission (SEC) of the United States rejected an application for Ether spot ETF. However, the Ethereum ETF is expected to get approval this year.
Notably, before the approval of the Bitcoin spot ETF, the SEC rejected over 16 ETF applications, and finally, in January 2024, the regulatory body approved the ETF, which entered the market and gathered billions of dollars into the market in a few hours.
TradingView data states that in the past seven days, the cryptocurrency market’s capitalization grew over 13% to $1.914 Trillion. The highest market cap in the past 52 weeks has been $1.934 Trillion.
Bitcoin, the market pioneer, surged more than 10.60% in the weekly time frame and was trading at $52,330 when writing. Several data sources claim that since the beginning of 2024, a positive momentum in adopting cryptocurrencies has been observed.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
