The majority of stock and crypto analysts predict that the upcoming Q4 2023 revenue report will show a 100% increase. All the positive sentiments are helping COIN stock attract investors.
Coinbase is a US-based crypto exchange. This crypto trading company’s services are available in most countries where crypto trading is legal. Since mid-2023, Coinbase has faced huge legal hurdles with the country’s securities regulatory agency, SEC. The SEC body is trying to violently fight Coinbase on behalf of traditional securities laws.
According to estimates from MarketWatch and FactSet, the company has Coinbase expected reports strong revenue growth for Coinbase in the fourth quarter, up about 22% from the third quarter to $825 million.
In addition to such data-driven reports, some people claimed that Coinbase will report a nearly double increase in revenue in the fourth quarter of 2023 compared to the third quarter.
In short, Coinbase could report a profit of $142.3 billion in the fourth quarter, while the company generated $76 billion in the third quarter.
After all these kinds of speculations, Coinbase (Coin) stock attracted enormous attention among investors. Over the past five days, the trading price of COIN stock has increased by almost 26%.
In the last 24 hours, the Coin price has risen 14.5%, which is enough to reflect investor sentiments towards Coinbase stock.
Over the past six months, the crypto market saw a significant increase in the trading price of the major crypto assets and it is clear that the overall crypto trading volume on the majority of crypto platforms soared.
Crypto companies, including the Coinbase exchange, generate the majority of revenue from crypt trading fees during the bull phase of the crypto market.
Bitcoin trading price
The current trading price of Bitcoin (BTC) is $52,237 and this trade is 55.46% higher than the trading price of the last 24 hours.
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