Cryptocurrencies
Coinbase Quarterly Rebound Likely Hampered by Cooling Volatility
- Exchange expected to return to profit, post revenue gain
- Lower volatility likely led to volume drop from first quarter
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Despite expectations for a doubling in revenue and a jump in profit, Coinbase Global Inc. is at risk of falling victim to a drop in volatility when it releases second-quarter results.
The unpredictable nature of token price swings have been one of the bigger challenges for the largest US cryptocurrency exchange since it was first listed as a public company in April 2021. Coinbase’s trading volume and revenue are forecast by analysts to drop from the first quarter, and the exchange appears to have lost market share.