“A funny thing happened on the way to the forum”In Mr Svens world all is peace and light in Crypto world .Sadly that is an alternate reality .
I took a look at Coins earnings ,this is a microcosm of the Crypto "brokerage houses"
It's share price is down about 33% since its issue date on the exact day the Cryptos peaked in May .
How can that be if all is well in Crypto world ,must be a bunch of foolish investors retail investors selling .
The second quarter Coins quarterly earnings were approximately 8$ a share (Coin is highly profitable ,just look at thier gas fees)this ended June 30th ,for the third quarter it wa 2 $ a share .How can that be if Crypto trading is increasing so dramatically .It's because all Cryptos have fallen in price and though volume may hold up the actual dollar volume of trading is down (due to the fall in price of BTC and ETHE),brokerage fees or gas fees are based on the dollar amount not the number of shares (ie number of Cryptos or BTC bought or sold) .
Coin Vygr are essentially no different than brokerage stocks like Schwab ,thier product is shares and Coins product is Cryptos ,they are highly leveraged to the underlying product .
End of story. .