Coinbase stock doubled in 2021, revenue fell in 2022, but analysts predict 90% increase in 2024

From Nasdaq
February 1, 2025 5:17 AM:

Coinbase Global’s stock (NASDAQ: COIN) doubled in the past year due to the crypto market’s growth and Trump’s pro-crypto administration. With revenue from top tokens like Bitcoin, Ethereum, and Solana, Coinbase’s revenue soared in 2021 but fell in 2022. Analysts predict a 90% revenue increase in 2024, signaling a new “crypto summer.”

Coinbase’s trading volume and revenue rose in 2023 and 2024, fueled by rate cuts and Bitcoin-related buzz. However, the market slowed in the latter half of 2024 due to economic concerns. Analysts expect a 5% revenue increase in 2025. Coinbase remains profitable and poised for future growth despite market volatility.

Despite uncertainty in the crypto market, analysts are optimistic about Coinbase’s future. With reasonable valuations and growth potential, it could be a good long-term investment. However, investing directly in leading cryptocurrencies on Coinbase’s platform may be a simpler strategy. The Motley Fool Stock Advisor team did not include Coinbase in their top 10 stock picks, emphasizing the importance of thorough research before investing.

Read more at Nasdaq.: Coinbase Global Stock: Buy, Sell, or Hold?