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Glad to hear you averaged down. Thank you and gltu as well.
Based on lvhd posts, he's been shorting COIN sine late 2023. I can feel his pain. I was hurting after buying COIN at the IPO, but fortunately have averaged down over the last few years. GLTA!
I'm a fairly new investor in coinbase and I am happy with my purchase point of $126 a share 😀
Neither did I, but I did average down over the last few years and I'm pleased with my current position. GLTA!
Did you buy under 50? LOL
Always buy when people cry.
Keep buying. Offering hit
Just buying
Very nice looking one month chart. GLTA!
A parabolic move! Hold on, the run is continuing! GLTA!
Goldman Sachs Upgrades Coinbase Global to Neutral From Sell, Adjusts Price Target to $282 From $170
6:35 AM ET 3/8/24 | MT Newswires
Mother Lode, see this morning's post #3942.
COIN up over 5% in pre-market. Saw on TV this morning that economists expect BITCOIN to exceed $100K by end of 2024. GLTA!
Horrible day in the Markets, today's Barrons article and the recent tremendous run by COIN resulted in today's pull back. However, considering the pps is up 2+% in after market trading, IMO, it is likely to be temporary. Possibly, just another buying opportunity, too. GLTA!
It will surely be a diamond in the sector which is why I bought at the IPO and have added along the way. GLTA!
COIN is to be the AAPL of the Crypto era
I added to my holdings at the day's end. GLTA!
Crypto: Meme Coins Dominate Crypto Market, Bitcoin Surpasses $67K, and Latest News
March 04 2024 - 01:02PM
IH Market News
Rise of Bitcoin and impact on the crypto market
On Monday, Bitcoin (COIN:BTCUSD) approached its record value, with an increase of almost 6,8%, reaching $ 67.479. Ether (COIN:ETHUSD) also saw a modest increase of 1.6% to $3,581. After a weekend pause, both cryptocurrencies resumed their upward momentum, driven by the introduction of new bitcoin ETFs and increasing demand. This movement reinforces a trend where major price fluctuations occur during the week, rather than over the weekend. The long-term outlook remains optimistic, especially with the post-halving supply reduction and growing adoption of ETFs.
“Even in its historical maximum region, BTC has not yet shown signs of fatigue. The main way to identify a price reversal is by an increase in supply while the price rises, which is not happening. Even after several days of strong gains, demand continues to be much greater than supply. According to on-chain data, approximately 87% of bitcoins purchased at this time are not for sale! This is the same percentage we saw, for example, when BTC was at $20k. I believe we will reach $80k quite easily, and who knows, end the year at $100k,” commented analyst Fernando Pereira from Bitget.
Moreover, enthusiasm in the cryptocurrency market was amplified by significant gains in related stocks and a resurgence in interest in meme coins.
Meme coins steal the spotlight with impressive gains
Meme coins overshadowed other assets this week, with Pepecoin (COIN:PEPEUSD) soaring 37.2% on Monday alone, accumulating a weekly appreciation of more than 490%. This movement followed the wave of enthusiasm generated by Dogecoin (COIN:DOGEUSD) and Bonk (COIN:BONKUST), pushing the trading volumes of these thematic tokens to new records of $3.6 billion, with weekly gains of 109% and 275% respectively. In comparison, SHIB appreciated 252% in the last 7 days, even with new updates in its ecosystems.
DeFi at the forefront of crypto revitalization, according to Bernstein
Bernstein Research predicts a strong rebound in the cryptocurrency market, with decentralized finance (DeFi) leading this recovery. The report highlights that DeFi, considered the future of blockchain finance, will recover significantly. Six of the top ten revenue-generating protocols belong to the DeFi sector, such as Uniswap (COIN:UNIUSD) and Aave (COIN:AAVEUSD). Unlike the past, where the sector was marked by unsustainable yields, a real return and clearer regulation are now expected, which could attract major asset managers to consider DeFi ETFs and active funds, further promoting the growth and adoption of the sector.
Tether USDT approaches $100 billion in market value
The stablecoin Tether (COIN:USDTUSD) is nearly reaching $100 billion in market value for its USDT stablecoin, after a 9% increase this year. This growth was driven by the recent issuance of 1 billion USDT by Tether Treasury, intended to replenish the Ethereum network, according to Tether CEO Paolo Ardoino. This advance reflects the growing interest from investors and the use of USDT as a hedge against currency volatility in developing countries, in addition to the preference for USDT on the Tron network, due to lower transaction fees, contributing to its expansion in the market.
BitMEX reports significant flows in GBTC and Bitcoin ETFs
In early March, for the first time since February 21, BitMEX recorded net outflows, highlighted by a withdrawal of $140 million in one day, influenced by a $492 million reduction in the Grayscale Bitcoin Trust (AMEX:GBTC), one of the largest daily movements ever seen. Despite these considerable outflows, the reduction in Assets Under Management (AUM) of GBTC was relatively moderate, falling from $28.6 billion to $27 billion, thanks to the appreciation of Bitcoin since the ETF’s launch in January. Its annual fee revenues reach $398 million, surpassing the new ETFs. Meanwhile, the BlackRock ETF (NASDAQ:IBIT) had modest inflows of $203 million on March 1, raising its total to $8 billion, equivalent to about 165,000 Bitcoins.
Morgan Stanley seeks to include Bitcoin in institutional funds
Morgan Stanley (NYSE:MS), a banking giant and wealth manager, plans to incorporate Bitcoin into its institutional funds, as revealed in a document to the SEC. The strategy includes investing indirectly in Bitcoin through ETFs in 13 investment vehicles, with a maximum allocation of 25% in Bitcoin ETFs. The bank highlights risks similar to direct investments in cryptocurrencies, while expanding the adoption of recently launched spot Bitcoin ETFs.
Worldcoin attracts millions of users despite privacy concerns
Worldcoin (COIN:WLDUSD), co-founded by Sam Altman, is expanding rapidly, reaching almost 4 million users in less than a year, even facing questions about privacy. The project, which uses iris scanning to validate human identity, has integrated with platforms like Minecraft and Reddit. Despite scrutiny over data collection practices in various regions, including South Korea, the WLD token maintained its value, benefiting from advances by OpenAI, a sister company of the project.
Ether.Fi invests heavily in the security of the Omni Network
Ether.Fi announced an investment of $600 million in Ether to support the security of the Omni Network, a blockchain developed to facilitate communication between various Ethereum rollups, ensuring low latency and security. The commitment is part of the EigenLayer security model, with the Ether being reinvested in this platform. As part of the agreement, the Omni Network will include the Ether.Fi eETH token (COIN:EETHETH) in its list and select its node operators for the validated service. This Ether deposit will serve as a guarantee against potential security failures. This move follows a recent $23 million fundraising by Ether.Fi and highlights the growth of the liquid staking market, driven by EigenLayer, where the total value locked (TVL) jumped to $10 billion.
Bitdeer unveils new Bitcoin mining chip
Bitdeer Technologies (NASDAQ:BTDR), based in Singapore, announced the successful development of an innovative Bitcoin mining chip, SEAL01, with 4-nanometer technology, intended for its future Sealminer A1 platform. This chip, promising an energy efficiency of 18.1 J/TH, aims to improve performance and reduce energy consumption, benefiting the environment and lowering operational costs. The launch date of the platform remains undefined.
Ark Invest reduces stake in Coinbase
Last week, Ark Invest sold 217,305 shares of Coinbase (NASDAQ:COIN), valued at $44.7 million, from its ARK Innovation ETF (AMEX:ARKK), adjusting the composition of the fund in light of COIN’s appreciation. On Wednesday alone, 86,298 shares were traded, exceeding $17 million. This move comes in a context of strong performance by Coinbase, whose shares rose 31% in the week and 72% in the month, despite a recent technical issue on the platform.
Coinbase executive challenges judicial decision on crypto assets
Paul Grewal, legal chief of Coinbase (NASDAQ:COIN), questioned the relevance of a judicial decision that defined certain crypto assets as securities, related to an insider trading case involving former Coinbase employees. The decision stemmed from the actions of Ishan Wahi, accused by the SEC of leaking information about future listings. Grewal argued that decisions made in absentia have little precedential value and criticized the SEC’s approach of not directly confronting those who could refute its claims.
Binance under investigation in Nigeria for financial allegations
Binance CEO Richard Teng was summoned by a committee of the Nigerian House of Representatives to discuss allegations of money laundering and terrorism financing by March 4. The summons follows the detention of two Binance executives in the country, amid accusations by the Nigerian central bank of contributing to an economic crisis by facilitating the exit of $26 billion in untraceable funds. Authorities are considering a fine of up to $10 billion, while the committee threatens action if Binance fails to appear.
Fraud alert in Hong Kong against BitForex
The Hong Kong regulatory authority issued an alert about BitForex, suspected of fraudulent activities, after the cryptocurrency platform went offline on February 23, with allegations of withdrawing $57 million from its wallets. BitForex, previously warned in Japan for operating without registration, faces scrutiny in Hong Kong, a region seeking leadership in digital assets while combating fraud. The commission called for police action following reports of users being locked out of their accounts.
Russian Alfa-Bank advances in the use of digital assets
Alfa-Bank, a major Russian bank, is set to launch an innovative Digital Financial Asset (DFA), tracking four main assets in Russia. The new asset, issued on the bank’s “A-Token” platform, will cover stocks, bonds, gold, and money market instruments. Developed in collaboration with Alpha Capital Asset Management, the DFA “Evergreen Portfolio” aims to offer attractive returns and stable capital growth to investors. This initiative reflects Russia’s advancement in digital assets, balancing potential gains with market volatility mitigation.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/93414441/crypto-meme-coins-dominate-crypto-market-bitcoin
Coinbase up 6.5% in premarket amid Bitcoin rally
March 04 2024 - 08:29AM
IH Market News
Shares of Coinbase Global (NASDAQ:COIN) moved in lockstep with Bitcoin’s gains which surpassed the $65,000 mark on Monday.
The recently approved Bitcoin exchange-traded funds (ETFs) and the upcoming April halving propelled the world’s largest digital token to its two-year high.
The company stock surged 6.5% to sell at $218.19 apiece at 7:46 am ET.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/93412095/coinbase-up-6-5-in-premarket-amid-bitcoin-rally
For those of them that reside in High-Rise buildings, lock your windows! No empathy here for Shorts!
Shorts are tiptoeing on hot coals.
Has to be painful.
mb
Up over 6% in pre-market. GLTA!
Coinbase to Participate in the Morgan Stanley Technology, Media and Telecom Conference
February 28 2024 - 08:05AM
Business Wire
Coinbase Global, Inc. announced today that Brian Armstrong, Co-Founder and CEO, and Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the Morgan Stanley Technology, Media and Telecom Conference on Wednesday, March 6, 2024 at 3:35 p.m. PT / 6:35 p.m. ET.
A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at https://investor.coinbase.com.
Disclosure Information
Coinbase uses the investor.coinbase.com and blog.coinbase.com websites, as well as press releases, public conference calls, public webcasts, our X feed (@coinbase), our Facebook page, our LinkedIn page, our YouTube channel, and Brian Armstrong’s X feed (@brian_armstrong) as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.
About Coinbase
Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including for trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. Together with the crypto community, we also advocate for responsible rules to make the benefits of crypto available around the world.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240228185032/en/
Press:
press@coinbase.com
Investor Relations:
investor@coinbase.com
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/93378351/coinbase-to-participate-in-the-morgan-stanley-tech
"The sharp rise has fueled renewed interest in apps like Coinbase, which allows users to buy, sell, and hold crypto products in a digital wallet. This rapid increase in demand, including from more casual crypto investors, have seemingly contributed to the app's current issues, as Coinbase says the app is experiencing issues from high traffic."
https://finance.yahoo.com/news/following-bitcoin-surge-coinbases-app-180358961.html
Lets see if at closing today the pps can hold above $200.00 and provide COIN with a firmer launching base. GLTA!
Check you balances, they are working on it..
No, but the impression was that it's not in the too distant future.
did he give a time frame?
CNBC today: Joe Kernen & Anthony Scaramucci had a very positive segment on crypto. Scaramucci thinks bitcoin could eventually be at $200,000. GLTA!
Possibly today's performance is an indication of how that case is going to go. Leak? GLTA!
Coinbase, IBD Stock Of The Day, Surges Above Buy Point As Bitcoin Tops $53,000 To Two-Year High
Coinbase is Monday's IBD Stock of The Day as it surges past a buy point. Shares of the cryptocurrency exchange are running higher with other crypto stocks as the bitcoin price spiked back above $53,000 for the first time since November 2021.
Coinbase (COIN) on Feb. 15 reported diluted earnings of $1.04 per share, improving from a loss of $2.46 per share last year and ending a streak of seven consecutive quarterly losses. Total revenue spiked 51% to $953.8 million, marking the exchange's second consecutive increase after six straight quarters of double-digit declines.
FactSet expected Coinbase earnings of 2 cents per share on a 31% jump in revenue to $826 million.
Consumer transaction revenue leapt nearly 60% over the year to $492.5 million and improving from $274.5 million in Q3. Institutional transaction revenue increased 173% to $36.7 million, also climbing from $14.1 million last quarter.
Total subscription and services revenue climbed almost 33% to $375.4 million. Custodial fee revenue rose to $19.7 million, compared to $11.4 million last year and $15.8 million last quarter, respectively.
For Q1, Coinbase expects subscription and services revenue to range from $410 million to $480 million.
Coinbase is also serving as the cryptocurrency custodian for a majority of newly launched spot bitcoin ETFs following the FTC's Jan. 11 approval for those funds.
ETF Impact
"We've always said that ETFs would be a win-win for Coinbase and we're starting to see that play out on our platform," CEO Brian Armstrong said on the Feb. 15 earnings call, noting Coinbase custody accounted for 90% of the $36 billion in bitcoin ETF assets at the time. "We're earning revenue, not just on custody, but also on trading and financing. We've already seen great demand as bitcoin is now the second-largest ETF commodity in the U.S., surpassing silver."
A number of firms hoisted their price targets on shares after the report based on the performance and Q1 outlook. H.C. Wainwright on Feb. 16 raised its price target on Coinbase to $250 from $115 and maintained a buy rating on the stock.
The upcoming bitcoin halving event in April along with growing demand and incremental inflows from spot bitcoin ETFs will provide "significant positive catalysts" for the exchange going forward, the firm wrote.
Bitcoin Notches Two-Year High
Bitcoin on Monday jumped as high as $53,614, marking its highest level since November 2021. The crypto's total market capitalization is back above the $1 trillion mark for the first time in more than two years following its February rally. Bitcoin is now up 25% so far in 2024, with most of the gains coming after the spot bitcoin ETF launches in early January.
Cathie Wood Takes Profits
Meanwhile, Cathie Wood and her ARK Invest firm appear to be taking profits on COIN stock throughout February. ARK Invest on Feb. 14 sold $34.23 million worth of Coinbase stock across three of its funds, its first sale of the crypto exchange's shares in over a month, according to daily trade updates. The most recent sale prior came on Jan. 11 following the bitcoin ETF launches, according to CoinDesk.
ARK Invest regularly sold shares throughout the month following Coinbase's earnings. The firm sold a total of 971,814 shares of COIN stock in February across the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF), worth roughly $167.25 million based on the various closing prices.
Coinbase Stock
Coinbase stock leapt 14.6% Monday to 190.29, moving back above a prior 187.39 cup-base buy point. Investors could have jumped into COIN as it broke the downtrend of a high handle formation. Traders also could use the Feb. 16 high handle peak of 193.64 as an entry or add-on buy point, but it's already significantly extended from the 50-day line.
COIN shares on Feb. 16 briefly broke out from a cup base following earnings but didn't close above that level. Shares fell back last week.
Shares have rocketed 48% so far in February to erase its 26% drop from January.
Coinbase leads the Computer Software-Financial Group according to the IBD Stock Checkup.
COIN stock has a perfect 99 Composite Rating. The Composite Rating combines various technical and fundamental indicators into one easy-to-read score. Shares have a 76 EPS Rating. Coinbase's relative strength line is trending toward its 52-week highs from late December and has a 98 RS Rating.
Elsewhere, spot bitcoin ETF shares and crypto stocks surged Monday along with bitcoin. Spot bitcoin ETFs, including the iShares Bitcoin Trust (IBIT), ARK 21Shares Bitcoin ETF (ARKB), Fidelity Wise Origin Bitcoin Trust (FBTC) all gained 5% Monday. The new bitcoin ETFs, except for Fidelity, are now trading at record levels after punching above launch-day highs.
Bitcoin miner Marathon Digital (MARA) vaulted 21% Monday ahead of Q4 results late Wednesday. FactSet analysts expect the company's earnings improve to 3 cents per share from a loss of $3.09 last year while revenue spikes nearly 440% to $153.6 million. MARA stock has a 30.45 cup-with-handle buy point.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
https://www.investors.com/research/ibd-stock-of-the-day/coinbase-rallies-to-break-downtrend-as-bitcoin-crosses-53000-to-two-year-high/
Texas Voters Stand with Crypto
A new study highlights that a ??growing pro-crypto constituency in Texas wants to update the financial system. This is particularly true among the Lone Star State’s younger demographic who view crypto as a tool for change to support economic opportunity, freedom and fairness. With the 2024 election fast approaching, With Texas leveraging its natural strengths to grow as a global crypto hub, Texas is standing with crypto and making clear policy makers should mess with Texans’ crypto.
* 4.7 million Texas adults (or 21%) own digital assets, according to previous Morning Consult data.
* Texas crypto owners represent the next generation of Texas voters, with 39% falling between ages
18-34 and a majority reporting a household income below $75K.
* Polling finds that this emerging cohort of younger, more diverse voters care about the positions politicians and leaders take on crypto, pointing to the economic opportunity, freedom and fairness; job creation; accessibility; and global leadership potential of the tech.
By Coinbase Policy, February 23, 2024, 3min read time
https://www.coinbase.com/blog/texas-voters-stand-with-crypto?__cf_chl_rt_tk=FEDRAvAGHPhUrz_PvZkD2twFHQ6GwTHSKHr.4peujgU-1708975503-0.0-5842
shouldn't we be getting a court decision on SEC v Coinbase soon?
Cathie, you may have sold a little too soon. GLTA!
Hope everyone took advantage of last week's dip. GLTA!
May be another buying opportunity today. GLTA!
You're a smart noodle 😆
I bought the dipsy doodle
Will be adding on these dips. GLTA!
Coinbase earnings suggest strong year ahead, though challenges abound
SANDEEP RAO
8 HOURS AGO
Coinbase's quarterly earnings report released last week indicated the company is well-positioned to tap into a number of growing revenue streams...
https://cointelegraph.com/news/coinbase-earnings-indicate-strong-year-ahead-though-challenges-abound
Cathie Wood’s ARK Offloads $90M Coinbase Shares Amid Slew of Analyst Upgrades
ARK sold Coinbase shares from ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF.
By Parikshit Mishra
AccessTimeIcon
Feb 19, 2024 at 2:15 a.m. EST
Updated Feb 19, 2024 at 2:17 a.m. EST
https://www.coindesk.com/business/2024/02/19/cathie-woods-ark-offloads-90m-coinbase-shares-amid-slew-of-analyst-upgrades/?_gl=1*c5ak5*_up*MQ..*_ga*MTYzOTA5Njk2MC4xNzA4NDgxNTM5*_ga_VM3STRYVN8*MTcwODQ4MTUzOS4xLjAuMTcwODQ4MTUzOS4wLjAuMA..
Where Coinbase Canada Goes, so Does the World
Canada, quicker to adopt ETFs than the U.S., may offer a signal to where the U.S. goes next.
By Daniel KuhnAccessTimeIconFeb 19, 2024 at 4:02 p.m. EST
https://www.coindesk.com/consensus-magazine/2024/02/19/where-coinbase-canada-goes-so-does-the-world/?_gl=1*eery8f*_up*MQ..*_ga*MTYzOTA5Njk2MC4xNzA4NDgxNTM5*_ga_VM3STRYVN8*MTcwODQ4MTUzOS4xLjAuMTcwODQ4MTUzOS4wLjAuMA..
Well, besides a weak Markets day, COIN was due for a pull back being up over 50% in less than 2 weeks. It didn't help that Cathie Woods ETFs took some profits selling $150 million worth of COIN. Positively, Goldman Sacks raised it's target from $124 to $170. Lets see how the week goes. GLTA!
Guys on CNBC (can't remember who) said BTC is approaching the 21-million-coin limit and we will hit that this year. He claimed BTC will hit 100K this year because of this constraint. If so Coinbase will be significantly higher.
side note: Coinbase posts results on Instagram. You just flip through.
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