CNBC reported on the 22nd (local time) that the stock price of Coinbase, the largest cryptocurrency exchange in the U.S., fell to an all-time low after Bitcoin plummeted, with a one-time collapse of $30,000.
Coinbase plunged more than 2% during the day on the news that $30,000 of bitcoin had collapsed on the same day, but it made up for the last-minute drop and closed at $222.47, down 0.06% from the previous day.
It made up for the fall at the last minute, but it is still at an all-time low. The all-time low was $220, set on the 8th.
Coinbase made its splendid debut on the stock market with a surge of 35% on the day of its listing in April, but fell nearly 50% from its peak as the recent cryptocurrency decline continued.
Coinbase has been rallying since its listing, rising to $429. As of the 22nd, the price is 222 dollars, so the stock price has almost halved.
At the time of listing, Coinbase successfully debuted on the Nasdaq as it was evaluated that the existing financial system recognized cryptocurrency.
In general, a stock exchange can make a profit as long as there are many trades, whether the price rises or falls. However, it is known that Coinbase is designed to pay less fees when the price of Bitcoin falls, so when the cryptocurrency falls, it is known that the income is paid.
