If the wall street journal points out, is that it is a striking figure. In a new article, the specialized media reminds us that the title of Coinbase on the New York Stock Exchange has lost 81% of its value since January. Many factors can explain this event, starting with generalized inflation which, correlated with a bear market already present since the end of 2021, has encouraged many investors to withdraw their pawns from the game.
But that’s not all, since the end of one of the most important trading platforms, namely FTX, also probably had something to do with it. Having bet a large part of its assets on its own token, the app saw its customers flee overnight when an article signed by our colleagues from CoinDesk pinned down these practices. Since then, the media have reveled in investigations into themeddling supposedly from the co-founder of the firm hitherto qualified as a unicorn: Sam Bankman-Fried.
A good long-term return?
Coinbase’s delicate position, however, remains the door open to DCA. A share is therefore only worth around 48.79 dollars at the time of writing, compared to 342 dollars during the IPO in April 2021. It is possible to buy securities in particular at Revolut, available on iPhone and on Android.
For his part, the founder of Coinbase, Brian Armstrongwants to be reassuring and has even just shared on his Twitter profile an advertisement that has just appeared in the very serious wall street journal. It can be read that the exchange recalls various commitments, including that of a head office located in the United States. It is also written there that the site does not speculate thanks to the assets of its users, which of course will require some verification.
Ad we ran in WSJ today – timely https://t.co/fsxy848S5N
—Brian Armstrong (@brian_armstrong) November 18, 2022
A good alternative to Binance and others?
Launched in 2012, Coinbase offers various features that are more consumer-oriented than the value propositions of FTX or Binance. In particular, it is possible to host many digital currencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) or even Cardano (ADA), Chain (XCN) and the USDC stablecoin.
On Coinbase, Internet users can schedule recurring purchases to save according to their income. And even professionals can take advantage of it, as with the offer Trade which gives access to a payment solution to the Paypal to accept cryptocurrencies on its online store.