In this regard, Coinbase is an American company that operates a cryptocurrency exchange platform. cites as the main reason the fall seen in the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. market, which had its beginnings at the end of 2021. However, the company reiterates that it remains steadfast in its commitment to digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies going forward.
The U.S.-based international exchange, Coinbase, revealed that for this first quarter of 2022 it recorded losses equivalent to about USD $1.33 billion, compared to revenues derived between October and December of last 2021.
Fall in the results of Coinbase for this first quarter
The information was released by the team of Coinbase in a letter to shareholders, in which it revealed that it recorded about $1.16 billion in net income, although this figure is well below the $2.49 billion capitalized for the end of 2021. It is worth noting that its trading volumes for this period also fell compared to last quarter, as they were about USD $309 billion versus USD $547 billion traded between October and December.
In relation to these results, the team of Coinbase he explained:
“The first quarter of 2022 continued a downward trend in cryptoasset a cryptoasset is any digital asset that uses cryptographic technologies to maintain its operation as a currency or decentralized application. prices and volatility, which had its origins in late 2021. These market an area or arena, online or offline, in which commercial dealings are conducted. conditions directly impacted our results for the first quarter… But we entered this phase of the market with a lot of foresight and preparation, so we remain just as excited about the future of cryptocurrencies.”
The drop in the aforementioned indicators was also felt among the registered user base by Coinbase, which for the corresponding quarter stood at over 9 million people.
Recent drop in stock prices COIN a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency.
The results presented by Coinbase for this first quarter also contrasts sharply with the drop seen in its share price in major markets, a reaction that also coincided with the decline seen in the price of major cryptocurrencies.
According to various published reports, the price of the stock COIN fell about 20% yesterday during the period of uncertainty that also shook the digital currencies market. In this regard, analysts explain that being a company whose operating model is based on cryptocurrencies, it was natural to expect fear among investors when seeing fluctuations in the price of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. and the main exponents of the sector.
At the time of going to press, the price of COIN continues to fall and is trading around USD $72.9 per unit, posting a 12.6% loss in the last 24 hours.
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Version by Angel Di Matteo / DiarioBitcoin
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