The crypto market continues to express more decline in the value of most assets, especially Coinbase. Also, the intense bearish trend is creating tighter conditions for almost all firms. The overall effect results in adverse reports on the performance of the companies. Related Reading: Dogecoin Shows Bullish Bias As $0.12 Support Holds; Will $0.15 Be Breached? Recently, Coinbase, the most prominent American crypto exchange, released its report for the third quarter of 2022. However, the data about its revenue are not impressive. In addition, the exchange published its 3Q report recently, which did not meet most analysts’ expectations. According to the data, Coinbase’s revenue dipped by 50% from its last year’s value due to fluctuations in trading activity. Hence, the firm lost about $545 million compared with the gain of $406 million for its Q3 2021. Adverse Macroeconomic Conditions Contribute To Revenue Decline Coinbase wrote to its shareholders regarding the drop in its revenue. It pointed out that the unfavorable macroeconomic conditions and the dwindling crypto market created a negative stance for the firm. Hence, the company’s trading volume dropped drastically, leading to a fall in its revenue. Usually, the exchange gets about 90% of its profits from its transaction fees, which is higher than the industry average. But, the bearish crypto market is not helping its activity. The detail of the company’s report has its...
