Coinbase Shares Drop 7.4% Amid Crypto Market Downturn

Coinbase stocks plummeted by 7.4% during afternoon trading, mirroring a broader decline in cryptocurrency-related stocks. This drop was primarily due to a decrease in Bitcoins value, which significantly impacts Coinbases business as a major crypto exchange. Despite this substantial drop, Coinbases stock price is still up 1.3% since the start of the year. However, its trading nearly 38% below its 52-week high, reflecting the volatile nature of investing in the cryptocurrency sector.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.