Took a quick read of Coinbase earnings and the key takeaway is that the year on year performance improvement is superb given the increased commission made from crypto trading on the back of higher crypto prices.
Time and again, we see that market interest around crypto and Coinbase depend largely on crypto prices. Bitcoin at one point reaching 73k USD recently and has since fallen back to around 59k USD.
All in all, chasing Coinbase now is largely dependent on one's view of crypto. As to how one ascribes value to crypto is a complex art and maybe science and I wouldn't claim to be an expert in this area. I take it as a risk sentiment instrument and the environment now maybe would be kinder to risk sentiment instrument given the worse than expected US job data last night APAC time.
I wouldn't touch Coinbase as I already have investment in risk assets aka stocks as investment. But this wouldn't mean I am negative about Coinbase. It's just that it's stock price will be swayed by crypto increasing price, if any and my odds of being percent right on this view is not as high as I want and this means I wouldn't bet much capital on this bet.
A little about Tiger Brokers (Tigr) is that they have obtained license in hong kong for virtual trading for crypto assets in early 1q2024 this year and professional investors are allowed to trade.
Given market environment for crypto in 1q2024, tiger brokers may be able to benefit a little from this trend though I am not clear how much it can benefit from this trend since tiger brokers just starts in this segment in Hong Kong.
The positivity is that Chinese tech stocks have surged since the low in Jan/Feb 2024 and with tiger brokers' users having invested in Hong Kong stocks, I do believe this may carry the trend further.
As always, this should not be construed as any investment or trading advice.
$Tiger Brokers(TIGR)$ $Coinbase Global, Inc.(COIN)$ $Futu Holdings Limited(FUTU)$ $Interactive Brokers(IBKR)$ $Robinhood(HOOD)$
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