Coinbase token after listing fell by 80%
The excitement around the listing of the first crypto exchange quickly subsided. According to analytics data, the price of Coinbase shares for 12 months. fell by 80%.
The exchange, which went public on the NASDAQ in April 2021, has lost over 80% of its ATH. The security's all-time high was $430. And in early May 2022, the situation changed dramatically. A year later, the share price is in double digits.
On Monday, the price for 1 security by the time of the beginning of trading was $84.30. At the same time, stock prices of other popular companies fell. So, the Zoom messenger lost 72%, and the Shopify platform 69%. At the same time, the first cryptocurrency also fell in price. BTC lost 36%.
However, given the hype surrounding the exchange listing, Coinbase's losses were significantly larger than those of other companies. At least, their price has not recovered yet.
The exchange posted a particularly weak performance in 2022, although last year's fourth-quarter earnings beat forecasts. According to experts, it is necessary to evaluate the results of profit for the first quarter of 2022, which will soon be made public.
A new word in the environment of cryptocurrency exchanges is the Qmall platform.
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