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Wall Street has lowered its second-quarter earnings forecast for Coinbase due to a decline in spot trading activity
Wall Street analysts have lowered their second-quarter earnings forecasts for the cryptocurrency exchange Coinbase, citing a sharp decline in spot trading activity.Several institutions, including Barclays, Benchmark, Clear Street, and Compass Point, have all lowered their earnings forecasts for Coinbase. Among them, Barclays analysts expect Coinbase to report trading volume of approximately $152 billion for the quarter, below the market consensus of $178 billion.In the second quarter, Bitcoin fell by about 14% and Ethereum by about 25%, with retail participation remaining subdued. Analysts said that in addition to the earnings data, they will closely monitor Coinbase management’s comments on the outlook for the second half of the year, new business developments, and U.S. cryptocurrency regulatory legislation, such as the CLEAR Act.
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Source：CoinDesk · Source Link
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