EUR/USD 1.14424
0.014%
Gold 4144.59
-0.487%
Oil 69.192
0.903%
USD/JPY 161.871
-0.129%
GBP/USD 1.33954
0.043%
GBP/JPY 216.838
-0.083%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hong Kong stocks continued to rise, with the Hang Seng Tech Index up 2% and the Hang Seng Index up 0.7%. Chip stocks rebounded, with Hua Hong Grace (01347.HK) rising nearly 5%.July 7 – The World Bank released its latest China Economic Brief in Beijing on July 7. The report states that despite facing strong supply and weak demand, as well as global energy supply shocks, Chinas economic growth has remained generally resilient. The report projects Chinas economy to grow by 4.4% in 2026, unchanged from the previous brief released in December last year.July 7 – Japanese Economy, Trade and Industry Minister Minoru Jonouchi stated that media reports claiming the government of Prime Minister Sanae Takaichi was attempting to lower interest rates were completely inaccurate. At a regular press conference in Tokyo on Tuesday, Jonouchi said, “Reports that the government is encouraging low interest rates as part of its fiscal expansion policy are baseless. If our intentions have not been accurately conveyed, we will work harder to improve understanding.” Jonouchi’s remarks come as financial markets closely watch how Takaichi will implement her economic strategy through large-scale investment without exacerbating the already heavy debt burden. Last month, Jonouchi represented the Japanese government at a Bank of Japan board meeting, where policymakers raised the benchmark interest rate to 1%, the highest level in 31 years.July 7th - It was learned today that the State Administration for Market Regulation has decided to conduct a centralized review of national metrological technical specifications from July to September. Through periodic reviews and dynamic monitoring, the review aims to promote the upgrading and optimization of metrological technical specifications. The centralized review covers currently effective national metrological technical specifications, focusing on issues such as outdated specifications, lagging content, and insufficient adaptability. It will conduct a thorough review from four dimensions: legality and compliance, scientific validity, applicability, and coordination. The review will benchmark against domestic regulations and standards and advanced international metrological technologies to comprehensively identify shortcomings and weaknesses in the system. Participating units are encouraged to submit optimization suggestions, and exemplary national metrological technical specifications will be selected to guide improvements in the quality and supply capacity of metrological technical specifications.Sources indicate that USD/KRW foreign exchange trading related to the SK Hynix ADR listing is expected to take place around July 15.

COIN Stock Alert: Coinbase Falls on Reports of Withdrawal Delays

Skylar Shaw

Sep 02, 2022 14:38

微信截图_20220902102816.png


The recent run for Coinbase (NASDAQ:COIN) shares has not been smooth, and things aren't looking much better on Thursday. The announcement that the business is now looking into a network problem that is delaying deposits and withdrawals sent the price of COIN shares down around 5% for the day.


The organization said yesterday that it has resolved delays "in processing ETH/ERC-20 deposits on Coinbase.com and Coinbase Pro." Without giving much information, it is now experiencing a different problem with another outage.


Of course, having problems today is not a good thing. Prices for Bitcoin (BTC-USD) are falling, and the whole market is also suffering.


Coinbase has been having trouble overall. Shares have lost almost 75% of their value thus far this year, with a 90.5% loss from peak to trough. In spite of the fact that COIN stock had risen from its 2022 low, almost doubling at one time, it has suddenly dropped by about 50% over the last four weeks.

What Will Happen to COIN Stock?

The business announced its second-quarter profits on August 9. As sales decreased by more than 60% year over year, Coinbase fell short of revenue and profit projections. Since then, COIN stock has been under pressure and has decreased in 13 of the last 18 sessions.


However, according to JPMorgan analyst Kenneth Worthington, Coinbase received some positive news a few weeks ago. According to him, Coinbase will "meaningfully benefit" from the Ethereum Merge.


According to daily trade volume, Worthington said that Coinbase is America's biggest bitcoin exchange. He thinks that because of the company's excessive exposure to Ethereum, it is well-positioned for a greater revenue potential (ETH-USD). With regard to ether assets, Coinbase has "a bigger market share (15%) than the 7% share it holds in the broader crypto ecosystem."


Additionally, he predicts that "incremental yearly staking income from the ether merging will be $650M assuming an ETH price of $2K and a 5% ETH return"

Of sure, this is a plus, but does it really matter?

Currently, it is probable that investors will pay attention to the equity bear market, Coinbase's price movement and financial results, and the development in cryptocurrencies. Although Worthington's claim could be valid, the current trend is alarming.

Suggestion