According to the data, trading volumes of cryptocurrency exchange Coinbase have decreased.
Coinbase is set to share its first-quarter earnings amid an uncertain regulatory environment and declining trading volumes in the US.
Coinbase Revenue Predicted Declining
The uncertainty of the regulatory environment in the US continues to harm industry stakeholders. That’s why US-based crypto money companies started looking for new locations for themselves.
Coinbase will announce its first-quarter earnings after Thursday’s close. However, all eyes will be on trading volumes and monthly traders after the period of regulatory concerns.
The data will give us an idea of how the stock market performed during the quarter. Interest income from USDC helped the stock market beat revenue forecasts for the last quarter and will again be significant.
The forecast of analysts commenting on USDC interest income was proven in the last quarter report of 2022.
However, the stock market exceeded revenue forecasts for the fourth quarter of 2022, but retail trading volumes continued to deteriorate. With all these predictions and data, the profit that Coinbase will announce is also a matter of curiosity.
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