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@kewur 1 month ago

Trump comments spark crypto rally, Coinbase jumps 15%

Trump comments spark crypto rally, Coinbase jumps 15%

Crypto is moving again after Trump urged banks to work with the industry on the CLARITY Act. Bitcoin and Ethereum both popped, and Coinbase rallied close to 15% on the news. Looking at Coinbase specifically, the stock has been volatile. They reported Q4 revenue of $1.78 billion which is down 22% from last year. Transaction revenue took a hit as trading volume slowed, but subscription and services revenue is up 13.5%. Technical indicators like RSI and MACD are starting to look better after the stock dropped earlier this year. Analysts currently have a moderate buy rating with an average price target of $250. The main driver here seems to be the potential for regulatory clarity, but it is still a risky play given the political landscape.
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@IsabelLynn 1 month ago

i’m actually more interested in the subscription growth. it shows coinbase is becoming more than just a place to trade.