Cryptocurrency News Official TheBitTimes.com

Coinbase (NASDAQ: COIN) lost around half of its trading volume year-to-date (YTD), as an effect of the extended crypto winter , and regulatory pressure exerted over the largest crypto currency exchanges. Trading volume accrued for the most part of COIN’s total revenue in 2023 Q2. Notably, Coinbase registered $76 billion in spot trading volume in 2023 Q3, a drop of 47% from the $144 billion registered in both the last quarter of 2022 and the first quarter of 2023, according to data by CCData, reported by Bloomberg on October 11. This current spot trading volume marks a 12-quarter low for Coinbase, considering the $87 billion estimated in 2020 Q4, a few months before COIN’s listing on Nasdaq. Moreover, the downtrend in Coinbase’s operational volume follows the stock market perception of value for holding COIN shares. With subsequent worse results in each new quarter since 2021, Q4’s top at $459 billion, during the euphoric crypto currencies’ bull market. COIN stock analysis ...

Bitcoin (BTC) is usually considered a digital commodity, with strong economic fundamentals to be a long-term Store of Value (SoV) due to having a programmed and limited supply inflation through mining, that is halved every four years. Interestingly, the stock-to-flow model used by economists to evaluate gold, silver, platinum, and other SoV commodities was also started to be applied to Bitcoin by a Twitter (now X) pseudonymous influencer called PlanB (@100trillionUSD). According to price projections created by the well-known influencer and broadly reproduced by Analysis platforms such as Coinglass , one Bitcoin should be worth $51,692 by September 14, 2023. However, 1 BTC is price d at $26,400 by press time. A value close to two times lower than the model ’s ‘fair value’. Bitcoin Stock-to-Flow model. Source: Coinglass What is the stock-to-flow model, how it works, and what are its limitations to Bitcoin? Notably, the description of how the stock-to-flow model works already sug...