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Coinbase Secures Canadian License Amidst Regulatory HeadwindsAmid escalating regulatory pressures in the United States, Coinbase ( NASDAQ:COIN ), a leading cryptocurrency exchange, has successfully secured a registration license in Canada, signaling its strategic pivot towards international expansion. This milestone achievement comes at a critical juncture for Coinbase ( NASDAQ:COIN ), amidst heightened scrutiny from US regulators, positioning the company to tap into the burgeoning Canadian crypto market while navigating regulatory landscapes worldwide. Navigating Regulatory Challenges: Coinbase's quest for a Canadian registration license underscores its proactive approach to regulatory compliance and its commitment to expanding its global footprint. With the regulatory environment in Canada perceived as more favorable for crypto platforms compared to the US, Coinbase's strategic move reflects its agility in adapting to evolving regulatory landscapes. Strategic Initiatives and Market Penetration: The journey towards obtaining the Canadian license involved meticulous planning and strategic efforts by Coinbase ( NASDAQ:COIN ), including engaging with regulators over several years and establishing a compliant platform tailored to Canadian regulations. Coinbase's presence as the first international cryptocurrency exchange registered in Canada positions it strategically to capitalize on the vast opportunities offered by the country's tech-savvy population and burgeoning crypto market. Global Expansion Strategy: Coinbase's foray into the Canadian market aligns with its broader global expansion strategy, characterized by initiatives such as the "Go Broad, Go Deep" approach aimed at securing local licenses in various international markets. Despite regulatory challenges, Coinbase ( NASDAQ:COIN ) remains resolute in its mission to provide access to the digital economy for users globally, leveraging its strong brand and commitment to compliance. Market Speculation and Analyst Forecasts: The news of Coinbase's Canadian license has sparked significant speculation regarding the growth potential of its native coin. Renowned analyst Oppenheimer's bullish forecast, raising the price target for Coinbase stock, underscores the firm's positive assessment of the crypto exchange's prospects. This optimistic outlook reflects confidence in Coinbase's ability to navigate regulatory hurdles and capitalize on the evolving crypto landscape. CEO Engagement and Investment in Canada: Coinbase's commitment to the Canadian market is further underscored by CEO Brian Armstrong's engagement with local tech leaders and the establishment of a tech hub with nearly 200 full-time employees. This investment in Canada's tech ecosystem highlights Coinbase's long-term vision and dedication to fostering innovation and growth in the region.
NASDAQ:COIN
by DEXWireNews
Wall Street Projects 48% Decline In COIN Q1 EPS Despite Bull RunMarket analysts have predicted a significant drop of 48% in Coinbase's GAAP EPS in the first quarter of FY24, despite the ongoing surge in the crypto market. As Coinbase Global Inc.'s ( NASDAQ:COIN ) latest quarterly earnings report approaches, Wall Street analysts have provided their forecasts for the cryptocurrency exchange platform. Despite the ongoing bull run in the crypto market, expectations for the Coinbase Q1 2024 report suggest a substantial decline in GAAP earnings per share (EPS) of 48% compared to the previous quarter. For the first quarter of FY24, analysts are predicting EPS of $0.54 for Coinbase ( NASDAQ:COIN ), down from $1.04 in Q4 FY23, indicating a massive decline of over 48% quarter-over-quarter. Some have questioned the Wall Street estimates, considering that the first quarter of FY24 experienced a significant bull run that even caused Coinbase's servers to crash. Looking ahead, the projections for Coinbase's performance reveal a mixed outlook. Revenue growth is expected to maintain momentum, with a projected 54% year-over-year (YoY) increase in 2024, followed by a more modest 0.5% growth in 2025. Meanwhile, EBITDA (earnings before interest, taxes, depreciation, and amortization) is anticipated to surge by an impressive 120% YoY in 2024, but then face a 10% decline in 2025. In addition, the situation becomes more nuanced when examining net income growth projections. Analysts anticipate an extraordinary 300% YoY surge in 2024 for Coinbase's net income. However, they also forecast a subsequent 36% decline in 2025, which could signal a potential end of the ongoing bull market. Coinbase ( NASDAQ:COIN ) reported a profit of $273.4 million for the three months ending December 31, compared to a $557 million loss a year before. Analysts, according to LSEG data, had expected a loss of $0.1 per share. However, the surge in interest in cryptocurrencies led Coinbase Global to unveil a new chapter on Thursday, marking its first quarterly profit since 2021, fueled by strong trading volumes. During the same period, the company also recorded a notable 64% surge in transaction revenue to $529.3 million. The stronger-than-expected outcome propelled the company's shares upward the day after the announcement, with the Coinbase ( NASDAQ:COIN ) stock soaring nearly 15% in the pre-market session that day. Additionally, Coinbase ( NASDAQ:COIN ) revealed that its subscription and services division encompasses activities beyond trading. Moreover, the crypto exchange provided an optimistic outlook for a successful first quarter this year. It forecasted sales for the segment to range between $410 million and $480 million, surpassing the LSEG estimate of $356.22 million. However, the results showed a decline in Coinbase's transaction revenue to $1.5 billion in 2023, marking a 36% year-on-year decrease. Furthermore, total trading volume plummeted nearly 44% compared to the previous year, standing at $468 billion.
NASDAQ:COIN
by DEXWireNews
Binance Coin can break resistance level and continue to riseHello traders, I want share with you my opinion about Binance Coin. Observing the chart, we can see that the price Some time ago declined to 355 points, after which started to trades in an upward wedge, where it rebounded from the support line and made a strong impulse up to the 500 support level, which coincided with the support area. Soon, the price broke this level and continued to rise to the resistance level, which coincided with the seller zone, but when BNB reached this level, it at once fell below and then rose to the resistance line of the wedge, after which made a downward impulse to support level, making fake breakout of 619 level. Then the price bounced from this level and started to move up near the support line of the wedge until it reached the resistance level again. After this, BNB rolled down and now trades close resistance line of the wedge. So, in my opinion, Binance Coin can rebound from the support line and reach to resistance level. After this, the price can break this level, thereby exiting from the wedge and continuing to grow, therefore I set my target at the 660 level. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
1
Judge Rules SEC Lawsuit Against CoinbaseA judge has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase ( NASDAQ:COIN ), the leading cryptocurrency exchange, can proceed to a jury trial. This ruling marks a pivotal moment in the ongoing battle between Coinbase and the regulatory authorities. Moreover, NASDAQ:COIN surged by 3.28% igniting bullish sentiments on the stock amidst court rulings and Cathie Woods stock sell-off on Coinbase ( NASDAQ:COIN ). The SEC's lawsuit, filed in June, alleges that Coinbase ( NASDAQ:COIN ) violated securities laws by operating as an unregistered broker and exchange. Specifically, the SEC claims that Coinbase's staking program involved the unregistered offer and sale of securities. While the judge dismissed one of the SEC's claims related to Coinbase's wallet application, she upheld the allegation regarding the staking program. Coinbase ( NASDAQ:COIN ) , for its part, has been steadfast in its defense. The company's Chief Legal Officer, Paul Grewal, expressed confidence in their legal arguments and emphasized their eagerness to uncover more about the SEC's internal views on crypto regulation. Despite the setback of the court's ruling, Coinbase remains resolute in its commitment to advocating for comprehensive digital assets legislation. This ruling sets the stage for a potentially lengthy legal battle between Coinbase ( NASDAQ:COIN ) and the SEC. As the case progresses to trial, both parties will have the opportunity to present their evidence and arguments before a jury. The outcome of this trial could have far-reaching implications for Coinbase, the broader cryptocurrency industry, and the regulatory landscape governing digital assets. Regardless of the eventual verdict, one thing is certain: the outcome of this trial will shape the future of cryptocurrency regulation in the United States. As Coinbase ( NASDAQ:COIN ) continues to navigate the complexities of regulatory scrutiny, the eyes of the crypto community remain firmly fixed on the courtroom, eagerly awaiting the resolution of this high-stakes legal showdown.
NASDAQ:COINLong
by DEXWireNews
1
Coinbase's Market Outlook: A Simple OverviewSince Coinbase went public in April 2021, its stock price has taken quite a tumble. Looking at the weekly chart, we're in the middle of a downward trend, marked by a 5-wave cycle that's not looking too cheerful. To shake off this gloomy forecast, the stock needs to climb above the peak of Wave (1), which is at $208. If it can't make that climb, there's a good chance it might revisit its lowest point ever at $31.55. There's a bit of a funny situation with the 50% extension target shown on the chart—it points to $-10, which obviously can't happen. 😅 Realistically, we're expecting the price might settle somewhere between $35 and $30, with a double bottom pattern seeming like the most likely scenario. We'll keep an eye on things and see how it unfolds.
NASDAQ:COINShort
by stromm_by_wmc
Coinbase Surges 9% as Bitcoin Resilience Ignites Crypto RallyAmidst Bitcoin's rebound past $70,000, Coinbase ( NASDAQ:COIN ) shares soar, reflecting renewed optimism in the cryptocurrency market. Coinbase ( NASDAQ:COIN ) shares have catapulted by over 9% in the past 24 hours, mirroring the resilience of Bitcoin ( NASDAQ:COIN ) as it bounces back above the $70,000 threshold. This surge in Coinbase's share price underscores the symbiotic relationship between the leading cryptocurrency exchange and the broader crypto market, which has witnessed a remarkable 61% rally in market capitalization since the year's inception. Trading above $278 per share, Coinbase's trajectory echoes the bullish momentum sweeping through the cryptocurrency landscape. Despite lingering below its all-time high of $342.98 set in November 2021, Coinbase's recent surge signals a renewed investor confidence amidst the backdrop of a rapidly evolving digital asset market. While U.S. stocks experienced a slight downturn on Monday, with major indices like the S&P 500 and the Dow Jones Industrial Average edging lower, Coinbase ( NASDAQ:COIN ) shares defied the broader trend, continuing their upward trajectory. This divergence underscores the unique dynamics at play within the cryptocurrency sector, where Coinbase stands as a bellwether for investor sentiment and market trends. Bitcoin's resurgence above $70,000 serves as a catalyst for both Coinbase and the broader crypto market, with the largest digital asset by market capitalization surging over 6% in the past 24 hours. As Bitcoin's price rebounds, market observers note parallels with gold, highlighting its qualities as a store of value and hedge against market volatility. Robert Mitchnick, Head of Digital Assets at BlackRock, likened Bitcoin ( CRYPTOCAP:BTC ) to gold at the recent Bitcoin Investor Day conference, emphasizing its historical correlation patterns with traditional assets. Mitchnick's remarks shed light on the evolving narrative surrounding Bitcoin's role in investment portfolios, challenging misconceptions about its risk profile and correlation with equities. As Bitcoin's rally reverberates across the crypto landscape, the GM 30 Index, representing a basket of the top 30 cryptocurrencies, has surged by 5.65% in the past 24 hours, further underscoring the widespread optimism and momentum within the digital asset market. In the midst of market fluctuations and evolving narratives, Coinbase ( NASDAQ:COIN ) emerges as a beacon of stability and opportunity for investors seeking exposure to the burgeoning cryptocurrency ecosystem. With Bitcoin leading the charge towards new highs and Coinbase shares soaring in tandem, the stage is set for a thrilling chapter in the ongoing crypto saga, marked by resilience, innovation, and boundless potential.
NASDAQ:COINLong
by DEXWireNews
Cathie Wood's Ark Invest Dumps $123M Worth of Coinbase stockCathie Wood's Ark Invest has divested approximately $123 million worth of shares in Coinbase ( NASDAQ:COIN ) and Robinhood ( NASDAQ:HOOD ) this week, signaling a significant shift in sentiment towards cryptocurrency-related stocks. Ark Invest, known for its bullish stance on disruptive technologies, made headlines as it offloaded substantial holdings in both Coinbase ( NASDAQ:COIN ) and Robinhood amid a surge in their stock prices. However, the timing of the divestments coincided with a notable slump in the prices of these companies' shares, raising questions about the firm's outlook on the crypto market. The divestment spree began on Friday, March 22, with Ark Invest selling off about $55.60 million worth of NASDAQ:COIN stock. The firm's ARK Innovation ETF (ARKK) witnessed a massive dump of 151,271 Coinbase shares, while ARK Next Generation Internet ETF (ARKW) and Ark Fintech Innovation ETF (ARKF) also registered significant divestments. This sell-off continued throughout the week, with Ark Invest shedding approximately $52.27 million worth of Coinbase stock on Thursday alone. The total weekly divestment amounted to a staggering $115.16 million, reflecting Ark Invest's bearish stance on crypto stocks in the short term. The timing of Ark Invest's divestments is notable, as it coincided with fresh 52-week highs for both NASDAQ:COIN and NASDAQ:HOOD stocks. However, the subsequent slump in prices following Ark Invest's sell-off raises questions about the firm's rationale and outlook on the crypto market. Cathie Wood's bearish outlook on crypto stocks contrasts with her firm's previous investments in disruptive technologies. This shift in sentiment suggests a cautious approach towards the volatile crypto market, with Ark Invest opting to reduce its exposure to Coinbase and Robinhood amid uncertain market conditions. While the massive dump from Ark Invest may raise concerns among investors, it also highlights the firm's proactive approach to managing its investment portfolio. By reassessing its positions in response to changing market dynamics, Ark Invest aims to navigate the volatile crypto landscape while maximizing returns for its investors.
NASDAQ:COIN
by DEXWireNews
Could coin surpriseThere's been a lot of news lately about the crypto industry at large. This has meant people being bearish on crypto as well as on COIN and predicting a crash in coin stock. However, I think retail are being fleeced again by institution. They dumped the stock on retail after IPO and are hoping to scare retail into selling them back those shares at lower princes. I am long but will be taking profits as we march on. Please like. Not investment advice.
NASDAQ:COINLong
by BlackisKing
14
COINBASE: Forming a Top. Selling gains momentum.Coinbase is on a bullish 1D technical outlook (RSI = 64.977, MACD = 22.160, ADX = 33.325) but at the top of the Channel Up. The 1D RSI Bearish Divergence on LH suggests that a similar top is close to getting formed (or already has) like on December 28th 2023. All major corrections since 2023 have been at a -39% minimum and reached always the 0.5 Fibonacci from the bottom. Consequently, we are now bearish on COIN, targeting the 0.5 Fib (TP = 185.00) where we will turn bullish again aiming for the Channel's top (TP = 350). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NASDAQ:COINLong
by InvestingScope
BNBUSDT - Price can fall little more and then bounce up to $562Hi guys, this is my overview for BNBUSDT, feel free to check it and write your feedback in comments👊 Recently price has grown in rising channel, where it reached resistance line, after which it made correction. After correction, BNB bounced up from support line to resistance level, which coincided with resistance area. Soon, BNB broke this level, exited from channel, and started to trades in flat, where it two times reached top pattern. Later, price turned around and in a short time declined below $562 level and also soon broke it, thereby exiting from flat too. Also then, BNB continued to fall and now I think that Binance Coin can fall a little more and then bounce up to $562 level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
TON Coin Support and Resistance Prediction Using TREX Price ActiUnlock the power of predictive analysis for TON Coin with our innovative approach using the TREX Price Action Method. TradingView introduces a cutting-edge strategy to anticipate future support and resistance levels for TON Coin, leveraging the intricacies of price steps to forecast market movements with greater accuracy. What sets our method apart is its reliance on the TREX Price Action Method, a robust framework that combines technical analysis with the psychology of market participants. By dissecting historical price data and identifying key price steps, we're able to construct a comprehensive roadmap for potential support and resistance levels, paving the way for informed trading decisions. Our publishing idea on TradingView encapsulates this strategy, providing traders with actionable insights into the future trajectory of TON Coin. Through detailed analysis and clear visual representations, we illuminate the critical zones where buying and selling pressures are likely to converge, empowering traders to optimize entry and exit points with confidence. Whether you're a seasoned trader or new to the world of cryptocurrency, our approach offers a systematic way to navigate the volatile landscape of TON Coin. Join us on TradingView as we decode market dynamics, unravel the mysteries of support and resistance, and unlock the potential for profitable trading opportunities with TON Coin using the TREX Price Action Method.
by Alii_askariii
COIN - Reckoning Incoming?COIN has been on an epic run. What goes up must come down as they say... but Bitcoin is at 73k tho bro. Just think of all the people who bought when it was at ~$50. A lot of institutional investment decided they were not going to miss out crypto this cycle and anticipated the run up. They are definitely going to take profits now that they are up almost 400% and they are also going to make sure to take advantage of the recent upsurge in retail interest and start selling into the momentum.
NASDAQ:COINShort
by Goontata84
9
Cathie Wood’s Ark Invest sold $69M Coinbase ($COIN) SharesCathie Wood's Ark Invest has made headlines once again with a significant sell-off of Coinbase ( NASDAQ:COIN ) shares, amounting to a staggering $69.5 million. As one of the leading voices in the investment world, Wood's strategic moves often garner attention and spark discussions among investors. This latest divestment of Coinbase ( NASDAQ:COIN ) shares raises questions about Ark Invest's strategy, the performance of Coinbase, and the broader implications for cryptocurrency investors. Ark Invest's Strategy and Coinbase's Performance: Ark Invest operates with a strategic vision aimed at maintaining a balanced portfolio across its ETFs, necessitating periodic rebalancing when individual holdings exceed certain thresholds. The surge in Coinbase's share value, fueled by the recent rally in the price of bitcoin (BTC), prompted Ark Invest to conduct this substantial sell-off. Despite this move, Coinbase's weighting across Ark's ETFs remains above the 10% threshold, hinting at the potential for further sales. Market Response and Coinbase's Current Performance: Following Ark Invest's divestment actions, the market response to Coinbase's performance has been closely watched. Despite the sell-off, Coinbase ( NASDAQ:COIN ) has shown resilience, with a 5.77% increase in pre-market trading. This uptick in share price reflects investor sentiment and underscores the volatility inherent in the cryptocurrency market. As Coinbase ( NASDAQ:COIN ) continues to navigate this dynamic landscape, investors are keenly observing its performance and evaluating its long-term prospects. Implications for Investors: The divestment of Coinbase ( NASDAQ:COIN ) shares by Ark Invest raises important considerations for investors. It highlights the need for a balanced approach to portfolio management, particularly in volatile markets like cryptocurrencies.
NASDAQ:COINLong
by DEXWireNews
Bitcoin consolidating and waiting for possible reversal SHORTI see Bitcoin as ready to fall as its next move. Short sellers are positioning. Volumes are falling in a signal of capitulation. Relative strength is showing bearish divergence while price is in consolidation. The boxes are checked and it is the weekend when the price volume trend is typically sideways. This is demonstrated by the flatline PVT. I will short Bitcoin when I see a bit of a volume push. I will reassess by crypto-related stock and options positions in due diligence to protect risk.
COINBASE:BTCUSDShort
by AwesomeAvani
3
Coinbase Stock Surpasses Initial Public Offering PriceThe stock price of Coinbase ( NASDAQ:COIN ) has surpassed its initial Public Offering (IPO) price for the first time in over two years, as Bitcoin ( CRYPTOCAP:BTC ) reached a new all-time high. When the most prominent U.S. crypto exchange entered the public market through a direct listing in 2021, the Genesis price was $250 per share. Initially, the stock experienced a surge, reaching a peak of $350 per share in November 2021. However, it concluded its first year on the market with a 38% loss. The following years saw Coinbase’s ( NASDAQ:COIN ) shares struggle as the cryptocurrency market plummeted and regulatory scrutiny from the SEC intensified. However, the past year has witnessed a dramatic turnaround for Coinbase ( NASDAQ:COIN ), thanks partly to Bitcoin’s price surge and the SEC’s approval of spot Bitcoin ETFs. As a result, Coinbase’s ( NASDAQ:COIN ) stock value has spiked by over 300% in the past 12 months. The company’s stock surged over 5% today after the latest bull run saw CRYPTOCAP:BTC reach a new peak of $70,000, but Coinbase ( NASDAQ:COIN ) is not the only company benefiting from the current bull market. MicroStrategy Inc., the largest Bitcoin holder, also increased its shares by 113% in the past month. NVIDIA’s stock also rallied over 20% this month due to its close association with Bitcoin mining. Despite Coinbase’s ( NASDAQ:COIN ) latest achievement, savvy investors who have held onto their shares since the beginning may not feel completely vindicated. By the end of 2022, the company’s stock had plummeted by 86%. Nevertheless, Coinbase’s ( NASDAQ:COIN ) stock has been on an upward trajectory alongside the crypto market. The rise comes despite recent technical issues on Coinbase’s platform, where some users reported seeing zero balances.
NASDAQ:COINLong
by DEXWireNews
MSTR oversold for a long tradeMSTR is now oversold but has a great earnings beat and the cryptomarkets surging to support a bullish idea. The 15 minteu chart shows price sitting on support of the POC line of the immediate volume profile. With confluence, it is above a fully horizontal lower VWAP line that has no slope. Support and resistance horizontal zones are drawn in for reference purposes. I will close my short position of the past day and switch sides here. The RSI indicator gives reassurance as it has pivoted up from the bottom, especially the faster green line. Selling volatility declared the bottom in the immediate term at the same time the relative volume indicator printed a selling volume spiking black bar both immediately before the regular market closed.
NASDAQ:MSTRLong
by AwesomeAvani
DOGE - Who Let The DOGE Out 🐶Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 DOGE has been overall bullish, trading above the blue trendline. Moreover, the 0.15 marked in blue is a strong support zone. 🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue support and blue trendline. 📚 As per my trading style: As #DOGE approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📈 In parallel, for the bulls to take over medium-term and start the next impulse movement, a break above the last major high in red at 0.175 is needed. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
11