Coinbase Down 12% From November Peak as Crypto Exchange Faces Growing Skepticism Over Revenue Sustainability

6 hours ago 2

Austin Smith

Tue, December 9, 2025 astatine 11:40 AM CST 2 min read

An isometric illustration features a golden, cracked coin melting connected a achromatic barbecue grill, surrounded by orangish flames and achromatic smoke. A salient reddish downward arrow points to the grill, accompanied by the connection 'COIN'. Below the grill, a reddish thumbs down icon is visible, each acceptable against a dark, smoky background.

Bitcoin fell 8% from its December peak. This threatens the transaction measurement that drove Coinbase’s 37% Q3 gross jump.
Coinbase trades astatine 23.7x net with a beta of 3.69. It amplifies crypto volatility successful some directions.
COIN is down 12% from its November precocious portion Robinhood holds steadier owed to diversified gross beyond crypto.
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Shares of Coinbase (NASDAQ:COIN) person fallen 11% successful the past month, coinciding with a crisp crook successful retail capitalist sentiment crossed Reddit and X. Once a darling of crypto bulls during Bitcoin's tally to all-time highs, Coinbase present faces mounting skepticism arsenic traders question whether the enactment is over. Bitcoin's descent beneath $93,872 (after hitting $103,000 successful aboriginal December) has rattled confidence.

Mentions of COIN connected Reddit's r/stocks and r/investing person surged implicit the past week, but the code has shifted decidedly negative. Users are nary longer celebrating the Q3 beat. Instead, they're questioning valuation, competitory threats, and the durability of transaction gross successful a cooling crypto market.

Coinbase (COIN) - Thoughts?
by u/Embarrassed-Egg-545 successful stocks

In this Reddit discussion, users expressed increasing concerns astir the company's valuation and sustainability. One idiosyncratic commented: "I deliberation it's a bully institution but I don't deliberation it's worthy the existent valuation. It's precise babelike connected crypto prices and trading volume." Another noted: "The occupation with Coinbase is that their gross is straight tied to crypto volatility. When the marketplace cools off, truthful does their business."

And determination are existent reasons to beryllium concerned:

Bitcoin has fallen 8% from its December peak, threatening the transaction measurement that drove Q3's 37% sequential gross jump
The institution trades astatine 23.7x net contempt a beta of 3.69, meaning it amplifies crypto volatility successful some directions
Competitors similar Robinhood (NASDAQ:HOOD) and Kraken proceed to undercut connected fees, pressuring Coinbase's retail margins

Trading measurement tells the story. Coinbase shares are down 12% from their November high, reflecting the broader pullback successful crypto-related equities. Robinhood, by contrast, has held steadier, benefiting from its diversified gross streams beyond crypto. For investors, the question is whether Coinbase's $2 cardinal buyback and organization derivatives propulsion tin offset the hazard of a prolonged Bitcoin downturn. Right now, sentiment suggests uncertainty is winning.