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Coinbase Q2 earnings as BTC hits $24K

Highlights from CoinMarketCap Data on August 09

  • Bitcoin                             $23,834                     2.28%
  • Ethereum                       $1,777.38                   3.81%
  • Tether                             $1                               0.01%
  • USD Coin                       $1                               0.01%
  • BNB                                $324.14                     -0.84%
  • XRP                                $0.3772                      1.03%
  • Cardano                         $0.5328                       0.01%
  • Solana                            $42.40                         1.12%
  • Polkadot                         $9.20                           4.61%
  • Dogecoin                        $0.07061                     0.93%
  • Avalanche                       $28.03                       -0.55%
  • Polygon                           $0.9275                      0.89%
  • Shiba Inu                        $0.000001235            -0.43%
  • Uniswap                          $8.82                          0.54%
  • Tron                                 $0.07028                   0.69%

Coinbase Global, Inc. is slated to release earnings after the market closes on August, 09.  The report will cover the fiscal quarter that ended in June 2022. According to analysts, the consensus EPS projection for the quarter is $-3.04 based on 5 expert forecasts. Last year, the reported EPS for the same quarter was $6.42.

On Monday, cryptocurrency prices rose despite negative trends in global markets. The overall cryptocurrency market capitalization was $1.10 trillion.

Bitcoin, the world’s most popular and largest cryptocurrency, was trading 1.4 percent higher at $23,312.3. The market capitalisation of Bitcoin was $444.2 billion, with a trading volume of $15.8 billion in the previous 24 hours.

Bitcoin (BTC) enters another pivotal macro week in the United States with a positive break to the higher.

After avoiding the now-familiar breakdown around the weekly close, BTC/USD is shooting higher at the time of writing on August 8 to take on resistance that has been in place for two months.

Can the bulls triumph? Momentum appears to be high across crypto, but a number of possible roadblocks stand in the way. 

With new US inflation data due, the macro picture might yet disturb the existing quo, while sellers also show no signs of relenting on allowing recovery of levels above $25,000.

Analysts predict that the next important resistance level for BTC will be $32,300, while the next support level will be $19,000.

Second-largest virtual currency, Ether, was 1.8 percent up at $1,715.2 with a market capitalisation of $207.7 billion. 

The trade volume of Ethereum was $9.9 billion in the last 24 hours.

According to analysts the weekly trend for ETH-BTC has broken out of the triangle pattern and continues on an upward trend. The next key resistance is expected at 0.078 and next support for ETH-BTC is expected at 0.049.

Meme crypto Dogecoin was 2.2 percent up with a trading volume of $197.7 million in 24 hours. 

Shiba Inu was trading 1.7 percent higher at $0.000012 while Solana was 4.1 percent up at $41.4 billion.

All information has been prepared by TraderFactor or partners. The information does not contain a record of TraderFactor or partner’s prices or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may read it. Past performance is not a reliable indicator of future performance.


  • Zahari Rangelov

    Zahari Rangelov is an experienced professional Forex trader and trading mentor with knowledge in technical and fundamental analysis, medium-term trading strategies, risk management and diversification. He has been involved in the foreign exchange markets since 2005, when he opened his first live account in 2007. Currently, Zahari is the Head of Sales & Business Development at TraderFactor's London branch. He provides lectures during webinars and seminars for traders on topics such as; Psychology of market participants’ moods, Investments & speculation with different financial instruments and Automated Expert Advisors & signal providers. Zahari’s success lies in his application of research-backed techniques and practices that have helped him become a successful forex trader, a mentor to many traders, and a respected authority figure within the trading community.