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Saturday, September 24, 2022

Coinbase Suffers A Huge DownGrade

Coinbase has been one of the biggest players in the crypto market. They were featured in the top tier of crypto companies. The company was in the same bracket as Ethereum, Bitcoin, etc. However, the recent days have not been all great for the company. The entire market has been facing a downward curve for the past few months. Companies like Bitcoin and Ethereum have seen their prices reach all-time lows. Such a trend made everyone very much fearful about investing in the crypto market.

In the most unfortunate way, Coinbase has suffered the most. They have reached a point from which they have almost zero chances of recovering. The stocks of the company have suffered a downgrade of eighty percent. This has made the company stand at a point where the investors are looking to liquidate their investments. Expert analysts have stated that such loss will compel the company to “sell”. However, the company is not the solitary one to bear the brunt. Three Arrows have also been recently declared bankrupt. They have asked their investors to liquidate their assets as well. Let us learn more about the story in detail below. 

Coinbase No More Active On The Market 

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Coinbase is on the verge of being liquidated. The company has seen its shares go down by eighty percent. However, the scenario was much better for the company in the past years. The company was one of the most promising ones in the recently booming crypto market. 

Coinbase had an overall valuation of $100billion in the year 2021. Such a rapid decline in prices has shocked the experts as well as the investors. No one was expecting such a turn of events in such a short span of time. 

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