After 15% Drop, Coinbase Shares See Small Uptick in After-Hours Trading

Coinbase Global Inc.‘s shares saw their largest one-day drop in almost two years on October 31, plunging 15.34% to conclude the session at $179.25. The biggest cryptocurrency exchange in the US reported third-quarter earnings that were 11% lower than Wall Street’s forecasts, which prompted the selloff.

The market seems unexpectedly upbeat about the company’s success going forward, despite the abrupt decline. While popular traders have expressed their positive outlook for 2025, after-hours trading shows some signs of catching up, with a small gain of 1.43%.

Despite a 27% Drop, Coinbase Transaction Revenue Surged 98% Year-Over-Year

Even though transaction revenue dropped 27% from the previous quarter to $573 million, the amount still shows a remarkable 98% year-over-year rise when compared to Q3 2023. All of this is significant in light of the larger market environment, where on October 31st, the whole market value was erased by about $950 billion. Interestingly, MicroStrategy, under Michael Saylor‘s leadership, has a higher market valuation than Coinbase, with $49.5 billion compared to $44.54 billion.

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