The enthusiasm surrounding the first crypto exchange’s debut faded swiftly. According to analytics, the price of Coinbase shares has dropped by 80% in the last year.
The exchange, which debuted on the NASDAQ in April 2021, has lost more than 80% of its all-time high. The all-time high for the security was $430. The situation deteriorated abruptly in early May 2022. The stock is now worth double digits a year later.
By the time trading began on Monday, the price of one asset was $84.30. Other well-known corporations’ stock prices declined during the same period. As a result, the Zoom messenger has lost 72 percent of its value, while the Shopify platform has lost 69 percent. At the same moment, the value of the first cryptocurrency dropped. BTC has lost 36% of its value.
Coinbase’s losses were much higher than those of other companies due to the excitement around the exchange listing. At the very least, their value has not yet been restored.
Although last year’s fourth-quarter earnings met expectations, the exchange had an especially poor performance in 2022. Therefore, experts believe it is vital to assess the profit figures for the first quarter of 2022, released soon.