Coinbase’s biggest opportunity

Coinbase’s biggest opportunity may no longer be simply riding Bitcoin’s next rally.

Despite weaker industry trading activity, Q3 Adjusted EBITDA rose 60% QoQ to $333 million, while Subscription and Services contributed 49% of net revenue. Its crypto trading market share also climbed to 10.7%, marking four consecutive quarters of gains.

More importantly, prediction markets have surpassed $200 million in annualized revenue. Stablecoins and derivatives could make Coinbase less dependent on retail trading cycles.

However, investors should not confuse accounting profits with sustainable growth. Q3's $719 million net income included substantial crypto investment gains.

My view: COIN deserves a bullish long-term outlook, but I would avoid chasing before recurring earnings confirm the recovery. The real test is whether diversification can deliver consistent profitability through the next crypto downturn.

@Capital_Insights [龇牙]

Global tech stocks plummeted in turn, while Crocs bucked the trend and surged. Is a turning point coming for consumer stocks?

Technology stocks faced pressure one after another, but Crocs surged by about 25% at one point based on better-than-expected earnings and an upward revision of its full-year guidance. Can overseas growth and the recovery of HEYDUDE bring new opportunities to consumer stocks? Are you more optimistic about the recovery in consumer stock earnings or the opportunities after the correction in technology stocks?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Is a turning point coming for consumer stocks?","type":0,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/detail&rndata={\"themeId\":b82c87c06d4d4f3ba727c452522bffae}&rnconfig={\"headerBarHidden\": true}","description":"Technology stocks faced pressure one after another, but Crocs surged by about 25% at one point based on better-than-expected earnings and an upward revision of its full-year guidance. Can overseas growth and the recovery of HEYDUDE bring new opportunities to consumer stocks? 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Stablecoins and derivatives could make Coinbase less dependent on retail trading cycles.\nHowever, investors should not confuse accounting profits with sustainable growth. Q3's $719 million net income included substantial crypto investment gains.\nMy view: COIN deserves a bullish long-term outlook, but I would avoid chasing before recurring earnings confirm the recovery. The real test is whether diversification can deliver consistent profitability through the next crypto downturn.\n<a href=\"https://ttm.financial/U/3527667668165440\"> @Capital_Insights </a> [龇牙]<t-t type=\"img\" src=\"https://community-static.tradeup.com/news/ed0d0ef066e4ce5524a8a18600695bbf\"></t-t></body></html>","htmlText":"<html><head></head><body>Coinbase’s biggest opportunity may no longer be simply riding Bitcoin’s next rally.\n\nDespite weaker industry trading activity, Q3 Adjusted EBITDA rose 60% QoQ to $333 million, while Subscription and Services contributed 49% of net revenue. Its crypto trading market share also climbed to 10.7%, marking four consecutive quarters of gains.\nMore importantly, prediction markets have surpassed $200 million in annualized revenue. Stablecoins and derivatives could make Coinbase less dependent on retail trading cycles.\nHowever, investors should not confuse accounting profits with sustainable growth. Q3's $719 million net income included substantial crypto investment gains.\nMy view: COIN deserves a bullish long-term outlook, but I would avoid chasing before recurring earnings confirm the recovery. The real test is whether diversification can deliver consistent profitability through the next crypto downturn.\n<a href=\"https://ttm.financial/U/3527667668165440\"> @Capital_Insights </a> [龇牙]<t-t type=\"img\" src=\"https://community-static.tradeup.com/news/ed0d0ef066e4ce5524a8a18600695bbf\"></t-t></body></html>","text":"Coinbase’s biggest opportunity may no longer be simply riding Bitcoin’s next rally. Despite weaker industry trading activity, Q3 Adjusted EBITDA rose 60% QoQ to $333 million, while Subscription and Services contributed 49% of net revenue. Its crypto trading market share also climbed to 10.7%, marking four consecutive quarters of gains. More importantly, prediction markets have surpassed $200 million in annualized revenue. Stablecoins and derivatives could make Coinbase less dependent on retail trading cycles. However, investors should not confuse accounting profits with sustainable growth. Q3's $719 million net income included substantial crypto investment gains. My view: COIN deserves a bullish long-term outlook, but I would avoid chasing before recurring earnings confirm the recovery. 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