Why Coinbase Could Tumble Even Further
When the last crypto winter came around in 2018, the landscape looked very different. Back then there were no publicly traded cryptocurrency exchanges and very few NFTs, and memecoins had not yet taken off. Now cryptocurrencies have evolved to the point that entire business models are dependent upon the health of the crypto economy.
Coinbase (NASDAQ: COIN) is the largest cryptocurrency exchange in the United States, and for good reason. Its technology simplified many of the complexities that can come with investing in cryptocurrencies. The company experienced massive growth in 2021 thanks to a crypto bull market and an IPO on the Nasdaq.
While Bitcoin and many other cryptocurrencies were hitting new all-time highs, Coinbase boasted an all-time high of 89 million users. Just a year before there were only 43 million using the exchange.
Source Fool.com
