Given that Coinbase is the most visible American crypto giant and the largest by market capitalization, its fourth-quarter and full-year 2022 results will be closely watched. Investors will want to see whether Coinbase can keep afloat in an increasingly stormy market, as well as how its acquisition of MoneyGram is performing.
In spite of Coinbase’s impressive track record and optimistic outlook for the coming year, its market share remains relatively small when compared to giants such as Bitfinex and Binance. However, if Coinbase can successfully solidify its product roadmap, increase revenue growth, and attract more institutional investors – all while competing against entrenched incumbents – it could well cement its status as one of the most important players in the American crypto market.
As investors flock to cryptocurrencies, a number of well-known startups are benefiting – with Coinbase seeing its share price rebound more than 50% to the mid-$60s today. It’s likely that this increased activity will support other startups’ stock prices as well, providing positive momentum for what has been a notoriously volatile industry. Still, red flags abound – part of the reason that cryptos have seen such wild price swings in recent years. No one can predict how high or low they’ll go next, so it’s important to keep your invested funds safe and protect yourself from potential losses by understanding the risks involved before jumping in.
The Exchange is a startup magazine that explores startups, markets and money.
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