Coinbase (COIN) to Face ‘Reality Check’ as Retail Investors’ FOMO Is Fading, Mizuho Says

Coinbase Soars After Reaching Cboe Surveillance Sharing Agreement for 5 Bitcoin ETF Applications

Mizuho says this indicates potential fatigue among retail customers, and in contrast to previous cycles, fear-of-missing-out no longer “entices investors to trade bitcoin when prices rise,” as it did in prior years. “This could prove problematic for COIN, as it generates around 95% of its transaction revenue from retail trades,” the note said, adding that the year-to-date rise in the shares is unsustainable. “We expect a reality check to follow.”

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