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.”
Source: https://www.coindesk.com/business/2023/09/12/coinbase-to-face-reality-check-as-retail-fomo-is-fading-mizuho-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines