Trading volumes continue to fall, according to Mizuho, which has been more bearish versus peer analysts on the stock. “3Q trading activity on Coinbase has been range-bound of late, and lack of volatility has weighed on volumes,” analyst Dan Dolev wrote in a recent note to clients. Additionally, Dolev sees the interest income boost being short-lived as Coinbase’s customers could seek higher-yielding alternatives for their cash deposits.
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