The profit of the cryptocurrency exchange Coinbase in the second quarter exceeded all expectations and forecasts of crypto analysts. Most experts attribute this to the rise in value and demand for Coinbase Global (COIN) shares. Only today did they manage to rise in price by 5%, and only in the late afternoon did they recover, returning to their previous indicators.
So, on the morning of August 11, the COIN value increased by 4.6%, up to $ 282. After some time, the share price rose again, reaching $ 294. Only in the late afternoon COIN returned to its previous levels, to $ 279.
Against the backdrop of influential sales and a large number of interested users, Coinbase was able to achieve profits that it did not expect. Coinbase Global reported a net income of $ 2.3 million in the second quarter of this year, up nearly 30% from the reported first quarter.