3.7K @PhatChin $COIN W 🟨
Multiple layers of support are strengthening underneath price action right now, in the form of: VWAP, Tenkan, orange Gann horizontal level, and the 0.236 Fibonacci level. It would require something catastrophic to break this support. However, lower indicators are meandering sideways and we will likely chop, here. BMSB resists above.
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119.2K @qinbafrank coin yesterday's market was interesting, earnings were bad causing a pre‑market drop, but it rose throughout the session, swinging by over ten points. It feels a bit like the market movement after the earnings release in mid‑February, another wave coming? 🤔 https://t.co/RwRvIEfBLL https://t.co/RoX6tvm2UC
119.2K @qinbafrank The post‑earnings movement of Coinbase was interesting. After a report that fell far short of expectations and even showed a loss, many saw the stock surge when it hit lower levels. This is also what we discussed yesterday: over the past few months, Coinbase’s stock fell from a high of over 400 to the current 140+, and this decline occurred while the broader crypto market was tumbling, so the earnings report couldn’t have been much better.
Of course, the downside has been largely priced in. Some investors are instead focusing on Coinbase’s institutional business, such as stock tokens and prediction markets, reflecting its diversified strategic initiatives. The significance of these businesses lies in:
- Reducing the proportion of crypto asset trading in Coinbase’s overall revenue system;
- Acting as an important marginal variable that can drive overall performance improvement.
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24.6K @serpinxbt QoQ trading revenue for Q1
Hyperliquid: -31%
Robinhood: -39%
Coinbase: -28%
yes, it's pronounced "cock"
20.2K @kirbyongeo Does the earnings really surprise you?
In the past year, Coinbase:
• CEO sold $500M of his $COIN stock
• Spent $375M on Echo (a platform probably sybil-ed)
• Spent $25M on an NFT podcast that hasn't dropped a single episode yet
• Acquired Deribit for $2.9B
• Fires 700 people, blames AI for it.
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