Bloomberg: Coinbase's quarterly rebound may be influenced by the decline in volatility in the cryptocurrency market

ChainCatcher news, according to Bloomberg, although Coinbase Global Inc.'s revenue is expected to double and profits are set to soar, it faces the risk of being impacted by the decline in volatility in the crypto market when releasing its second-quarter results. Since going public in April 2021, the unpredictability of token price fluctuations has been one of the biggest challenges for Coinbase.

Analysts expect that Coinbase's trading volume and revenue will be lower than in the first quarter, and the exchange seems to have lost market share. Data from research firm CCData shows that the 30-day average volatility of digital assets so far this year is about 52%, down from 79% during the last bull market in 2021. Although Coinbase's stock price has risen about 30% year-to-date, it is still below Bitcoin's approximately 50% increase during the same period.