Coinbase shares drop because the number of users and the trading volume decrease

The Coinbase share fell by almost 15 percent on Tuesday, after the cryptocurrency exchange had reported disappointing income for the third quarter and a shrinking number of active users, a sign that the feverish trade calmed down.

The turnover in the third quarter was $ 1.31 billion, an increase of more than 300 percent compared to the previous year, but according to S&P Capital IQ significantly below the analyst expectations of US dollars.

The results indicate a dramatic cooling of the crypto trade compared to the previous shock quartal when Coinbase is a net profit of 1.6 billion

The trading volume went back to $ 327 billion, 29 percent less than in the previous quarter.

Coinbase, which was publicly listed in April, also said that the number of monthly transaction users in retail - retailers who act at least once a month, known as MTUS - 7.4 million in the previous quarter.

The net profit was $ 406 million and thus exceeded the consensus estimates of around $ 380 million.

"As our previous annual results have shown clearly, our business is volatile," said the company in a shareholder letter and asked investors to look at the cryptom market "in the long term".

"While we have entered the third quarter with weaker crypto market conditions, driven by low volatility and falling prices for crypto assets, the market conditions later improved significantly in a quarter, which we continued to observe until the beginning of the fourth quarter," he added.

Coinbase was involved in a public dispute with US regulatory authorities, since these assess how free-range cryptoma markets can be ruled, which increases the potential of new contaminations and compliance costs for crypto companies in the future.