Solid Results Despite the Overall Crypto Market $COIN.NE’s 2022 Q1 results were just released on Monday and overall, they continue to show the strength and the company’s abilities despite the volatile market conditions. Here are some of my favourite highlights from it.
- 11.4% annualized rate of return based on the original cost of tokens deployed for staking.
- 319% revenue growth over last year’s Q1.
- Digital asset inventory growth of 5% from Q4 2021.
- Plus, they have around $6M in cash in which they can use for continued investments and operational expenses.
- They rebalanced the crypto holdings portfolio and sold 90% of its Terra Luna tokens before the price collapsed due to uncertainty around the peg of Terra’s UST (TerraUSD) stable coin (suffered no losses as a result). It really does show that the people working at $COIN.NE are some of the top experts within the space.
https://ca.finance.yahoo.com/news/tokens-com-announces-q1-2022-113000563.html
The public seems to have liked the numbers, as well as the stock, is up 14% since the release. The metrics from the metaverse fashion week also show how far the space has come. In total there were 100,000 visitors, 1B social media impressions, and an average of 27 minutes spent inside displayed. As they continue to diversify into further Web3 assets, I'm excited to see what they can bring next.
I still believe that this is undervalued at its current levels due to the overall market selloff impacting share performance. Only a $55M market cap so definitely keep an eye on this one at these levels. GLTA!