Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s
Rally Propels Coinbase and Robinhood
to Stellar
Year-
End Gains
As 2024 comes to a close, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin appears to have been by far one of the
top-performing asset classes in the year. This was driven by the launch of new
exchange-traded funds, which spurred broader adoption and optimism.
Now, the question is whether the momentum will extend to crypto trading
platforms like Coinbase and Robinhood.
Coinbase and Robinhood Ride the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Wave
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Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has more than doubled in value since the beginning of 2024, when it
traded at around $40,000, and is now trading close to $94,000.
Clearly, cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта remained as volatile as ever throughout the year,
with dramatic fluctuations. For those concerned about the high volatility in
this space, investing in traditional stocks might be the best option. That
said, according to a Fortune report , two crypto-related companies— Coinbase
and Rob i nhood —are well-positioned for a strong 2025.
The two companies went public in early 2021 and have followed similar paths
since. After a strong initial performance, their stock prices plummeted
following the shifts in the macroeconomy and the collapse of the crypto
markets• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта in late 2022. But the story changed in 2024.
Coinbase began 2024 at a share price of $156 but ended the year near $250, up
50%. Robinhood shares rose by almost 200% on the yearly charts as well.
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Coinbase and Robinhood Price Performance. Source: TradingView
Retail Interest to Push Coinbase and Robinhood Higher?
With the broader market trends pointing towards a bullish 2025, more people
might enter the market using trading apps like Robinhood and Coinbase.
Analysts believe that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin might shoot past $120,000 soon, and those eager
to join the rally will have to rely on these companies.
When Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and other cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта surge, retail investors flock to
trading platforms, fueling increased app downloads.
Recently, Coinbase took the ninth spot in global app rankings , followed by
Robinhood at 13. The simultaneous growth of Coinbase and Robinhood shows a
renewed demand for easy-to-use crypto trading platforms.
Looking at the technicals, Robinhood’s Q3 2024 earnings report revealed a
significant surge in crypto trading volume, reaching $14.4 billion. This
marked a 114% year-over-year increase from Q3 2023.
Founder and CEO Vlad Tenev also commented on the earnings report.
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“I’m really proud of our Q3 results and how smoothly our product engine is
humming. In the past month, we introduced Robinhood Legend, our new desktop
offering, and announced index options, futures , and a realized profit and
loss tool are coming soon. We have a ton of momentum, and we’re just getting
started,” Tenev stated.
Additionally, Coinbase s Q3 total trading volume has more than doubled
year over year to $185 billion.
Robinhood and Coinbase won t report their Q4 earnings until February.
Still, strong results can be expected due to the market surge fueled by
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s significant rally in November, especially after Donald
Trump s election victory.
Separately, Coinbase’s Base blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн added 13.7 million users in October
2024, outpacing giants like Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum and emerging as the fastest-growing
blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн.
Overall, the two companies seem poised to make a major impact on the stock and
crypto markets• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта in 2025. However, there are also challenges to overcome.
For instance, Coinbase was sued for $1 billion after the company decided to
suspend trading of Wrapped Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin in December.
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