To The Moon

🌟🌟🌟$Coinbase Global, Inc.(COIN)$ started with a vision to bring over 1 billion people into crypto, remaining steadfast in its mission to increase global economic freedom. Coinbase is the world's largest crypto exchange. Its share price has jumped 141% year todate but is down from its all time high of USD 429.54 from April 2021. Is Coinbase a Buy? Let's dive into the exciting world of Coinbase and cryptocurrency. Coinbase has just reported its 6th consecutive quarterly loss of 42 cents per share while net revenue fell 17.9% to USD 663 million. Total revenue declined 8% to USD 708 million. Monthly Transacting Users fell 19% to USD 7.3 million. Consumer trading volume for the quarter dropped 70% to USD 14 billion and institutional trading volume fell 54% to USD 78 billion. Coinbase has just launched on August 9 its Ethereum layer 2 block chain Base. In doing so, Coinbase has become the first publicly listed company to launch its own Blockchain network. Coinbase said that the Base Blockchain network will allow users access to over 100 decentralised applications (DAPPS). Over USD 127.3 million worth of Ether had been bridged to the Base blockchain on Thursday 10 August in Asia, according to Dune Analytics. To mark the launch, Coinbase has kicked off "Onchain Summer" a month long celebration of Blockchain art, music and gaming. Participants include Coca Cola, Atari and NFT market place Open Sea. The other positive news is that BlackRock, the world's biggest Fund manager has filed a application with SEC to launch the iShares Bitcoin Trust, a spot Bitcoin ETF. Coinbase is listed as the bitcoin custodian for the proposed Blackrock ETF. The companies announced last year that Aladdin, Blackrock's institutional investment platform would be connected to Coinbase Prime for crypto trading and custody. Bitcoin has rallied 75% so far this year and traded around USD 29,000 on Friday. Bitcoin is the world's largest cryptocurrency. It hit a high of USD 31,809 on July 13 but is still down from its record of USD 67,000 in November 2021. Coinbase and Bitcoin's fortunes are very much intertwined. If one goes up, the other will too. Currently Coinbase is still in a lawsuit with SEC which charged Coinbase for selling unregistered securities in early June. In the short term, I am Bearish on Coinbase but Bullish in the long term. Cryptocurrencies are still in the nascent stage and face lots of volatility ahead due to regulatory issues. But in the future as more institutions adopt cryptocurrencies and with wider acceptance by the general public, Coinbase has the first mover advantage to reap the rewards in the long run. It could even be a multi bagger stock by then. So patience and time in the market are required when investing in Coinbase to let it achieve its full potential. @Daily_Discussion @TigerStars @MillionaireTiger @Tiger_comments @Tiger_Earnings @Trend_Radar @CaptainTiger