How bad is the crypto market crash? Take a look at Coinbase
— Market, Crash, Investors, Coinbase, Crypto, Company, Transactions, Analysts, Price, Ryan — 1 min read
The nation's largest and first publicly traded crypto exchange, Coinbase, has seen its stock price plunge 81% this year. Some hedge funds are starting to short the stock, meaning Wall Street is betting on it dropping even further. Analysts predict the company will make it through this crypto market slump and ultimately thrive. The number of monthly users has dropped 19% since the end of last year, the company said in May. The price of bitcoin, ethereum and other major tokens started falling this spring as rising inflation tightened its grip on the U.S. economy. The drop in transactions makes the company's $6 billion war chest even more important, an equity research analyst said. The future depends on how many investors will return to the crypto market, analysts said. Source