New York, Feb 2, 2026, 14:43 ET — Regular session
- Shares of Coinbase slipped in afternoon trading, pressured along with other crypto-related stocks
- Bitcoin swung sharply, leaving risk appetite fragile despite a bounce
- Traders are zeroing in on the Feb. 12 results for hints on volume and revenue breakdown
Coinbase shares dropped roughly 2.7% to $189.56 in Monday afternoon trading, deepening a recent downturn despite bitcoin holding steady above its lows.
This shift matters because the stock now acts as a quick gauge of crypto trading activity — and the health of the fee engine. When volume drops, exchange earnings can dive just as fast.
A Bloomberg report called the steep drop in trading volumes at key platforms the “core engine” of the business, prompting analysts to slash forecasts following a steep share-price slide over the last three months. (Bloomberg)
Bitcoin edged up around 1.2% to $78,409, following a daily range between roughly $74,609 and $79,155. Ether held steady near $2,338, after dipping to about $2,163, according to market data.
Moves like these often attract short-term traders. But when price spikes resemble forced selling rather than genuine buying, investors tend to grow cautious.
“It’s risk off and de-leveraging — a flushing out of leverage in the system,” said Christopher Forbes, head of Asia and Middle East at CMC Markets, describing investors pulling back from borrowed positions. (Reuters)
Shares in other crypto-linked firms took a hit. Robinhood Markets dropped nearly 9.7%, and Strategy slid roughly 4.3%.
Coinbase faces a straightforward challenge: will the recent volatility boost trading activity, or will customers hold back? Meanwhile, investors are increasingly relying on non-trading revenue streams to buffer the swings in the market cycle.
But volatility swings both ways. A sharper drop can drag prices down just as volumes shrink, squeezing fee income while fixed costs stay put — the risk traders keep hawking over and over.
Coinbase plans to release its fourth-quarter and full-year 2025 earnings after the market closes on Feb. 12, followed by a webcast at 5:30 p.m. ET. Investors are keen to gauge customer activity trends and any forward-looking comments as the new quarter begins. (Coinbase)
