COIN Stock Dips Below $250 After Coinbase Announces Plans to Sell $1.25B of Convertible Debt

On a long-term basis, Coinbase stock remains bullish supported by an upward call for the cryptocurrency industry by several Wall Street analysts. Coinbase Global Inc (NASDAQ: COIN) stock closed Monday trading at $248.24, down 3.92% from the day’s opening price. Additionally, COIN stock dropped approximately 1.16% further during Tuesday’s pre-market to trade around $245.37. The COIN stocks’ sustained losses in the past few two days have been attributed to an announcement that the company is planning to sell $1.25 billion worth of convertible debt. Essentially, COIN shareholders had anticipated a…

COIN Stock Jumped 6% in Pre-market, Coinbase 2021 Q1 Earnings and Revenue Results More than Tripled in Regards to 2020 Q4

Notably, during the first quarter, Coinbase recorded a net profit of over $771 million, more than fourfold of what the company reported during the fourth quarter. Coinbase Global Inc (NASDAQ: COIN) stock was up over 6% in today’s pre-market to trade around $282.30. However, COIN stock closed yesterday trading at $265.10, down 6.53%. The spike in Coinbase stock on Friday’s pre-market was largely attributed to the Q1 earnings and revenue results that significantly skyrocketed in regards to 2020 Q4 results. Coinbase Q1 Earnings Notably, Coinbase reported earnings per share of…

Elon Musk loses $20B since SNL, as Michael Saylor comes out firing

Elon Musk has reportedly lost $20 billion since his May 8 appearance on Saturday Night live, as the news of Tesla halting BTC payments for cars continues to send shockwaves across markets. On May 7, the day before Musk made his appearance on SNL, Tesla stock was sitting at $669. In the week since the stock has declined 14% to sit around $573. According to Forbes estimates, this sudden drop has seen Musk’s $166 billion net worth plunge by $20 billion down to around $145.5 billion. The 14% drop this…

Swiss Bank UBS Group Planning To Offer Crypto To Top Customers

Swiss-based bank and financial services provider UBS Group AG looks to be the next to enter the fold. Reports released to start the week state that the banking behemoth is considering several different alternatives to offer digital currency investments. UBS Joins The Club The news comes not long after major US-based firms, such as Goldman Sachs and Citi, have been associated with similar moves. Goldman recently opened up trading with non-deliverable forwards tied to Bitcoin, Citi has been reported to be considering crypto services, and Morgan Stanley and Bank of…

After 68% Surge, Bitcoin Cash Burst Back Into Top 10 Crypto

On Thursday, Bitcoin Cash (BCH) re-entered the top ten market capitalization rankings after a 36% overnight gain that compounded to 68% growth for the week. BCH’s per-coin value jumped from $1,068 to $1,462 in less than 24 hours leading up to Thursday, extending a significant rise from its weekly low in the $800 region. A Revival Before The Hard Fork Bitcoin Cash has a lot of catching up to do to Bitcoin in terms of the size of its network. After reaching a high of nearly $4,000 back in 2018,…

Bitcoin mining in China set for ‘stricter supervision’ due to carbon concerns

China’s crypto mining operations may be set for stricter supervision in the future, with the Government reportedly concerned about the energy consumption of Bitcoin mining in particular. Beijing sent an “emergency notice” to conduct checks on data centres involved in Bitcoin and other cryptocurrency mining operations on April 27, which was reportedly met with some panic in China. However Chinese columnist Colin Wu or Wu Blockchain on Twitter, was quick to downplay fears of how this could impact Chinese Bitcoin miners in the short term, noting that: “This caused some…

Ethereum Seems Unstoppable, Here’s How ETH Could Extend Rally

Ethereum remained in a positive zone and it traded to a new all-time high above $2,750 against the US Dollar. ETH price is correcting gains, but dips are likely to be limited below $2,650. Ethereum extended its rise above the $2,700 and $2,740 resistance levels. The price is now trading well above $2,650 and the 100 hourly simple moving average. There is a major rising channel forming with support near $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to start a fresh increase…

Crypto Fear/Greed Index Drops to Levels Last Seen in April 2020

The Crypto fear/greed index has dropped to 30 These levels were last witnessed in April 2020 after the Coronavirus crash of March 2020 Such a low level could be a sign that it is time to buy the dip Bitcoin’s sentiment is also at its lowest since September 2020 However, caution is advised when buying the dip with the weekly BTC chart hinting of a correction The Bitcoin and Crypto fear/greed index has dropped to 30. This level was last witnessed in April of 2020 and after the Coronavirus crash…

COIN Stock Down 2.63% Yesterday, Nasdaq Set to Launch Options Trading for Coinbase

With the introduction of the options market, Coinbase shareholders anticipate the stock to revamp from last week’s dump. Coinbase Global Inc (NASDAQ: COIN) stock yesterday closed trading at $333.00, down 2.63%. Meanwhile, COIN stock was trading approximately 0.54% down during the after-hours trading session according to MarketWatch. Notably, Coinbase stock was listed on the Nasdaq exchange last week and has since seen its volatility push the prices down. During the first day of trading, COIN stock traded between $429.54 and $310. However, the bullish sentiments indicate an imminent breakout as more…

Cardano’s upcoming Alonzo update pushes ADA price despite a major delay

The Cardano Foundation is led by Charles Hoskinson, the founder of Cardano and also the co-founder of the Ethereum blockchain. On April 6, through his YouTube channel, he discussed Cardano’s roadmap covering the next four years in a video titled “Some Musings about the Roadmap.” In these musings, he mentioned that although the Cardano developers are working on solving the scalability issue and Cardano’s approach to it, he will only turn his attention toward this issue once the Alonzo update has been completed. The scalability phase of the Cardano roadmap…