Coinbase fell 2 percent Tuesday to about $217 as Bitcoin prices tumbled, proving that it is not immune from the price volatility of other cryptocurrencies.
The price slide is directly attributed to poor performance by cryptocurrencies, especially Bitcoin after Tesla chief Elon Musk tweeted an end to their relationship with Bitcoin, China's intensified crackdown on its mining, and hesitant investor sentiment.
Chris Kuiper, an analyst with CFRA Research, said that Coinbase derives 90 percent of its revenue from trading fees that are assessed as a percentage of the transaction
Thus, coinbase, which peaked at about $429.50, generates less revenue when prices of other crypto assets are falling.
Other crypto-related stocks have been free-falling lately.
Software firm MicroStrategy (MSTR), which owns a big chunk of bitcoin, plummeted 11 percent Tuesday after a 10 percent drop Monday.
Shares of bitcoin miners Marathon Digital Holdings and Riot Blockchain and that of Chinese bitcoin mining equipment company Canaan all plunged this week.


Nintendo Shares Jump as Switch 2 Sales Boost Earnings
US Stock Futures Rise as Markets Await July Payrolls Data
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data
Siemens Energy Q3 Profit Beats Forecast as AI-Driven Power Demand Fuels Growth
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge
BOJ Rate Hike Expectations Rise Ahead of September Meeting
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets
DBS Raises 2025 Outlook After Record Q2 Profit Driven by Wealth Management
FxWirePro- Major Crypto levels and bias summary
Nvidia to Invest Up to $3 Billion in Blackstone-Backed Lancium
Glencore Posts Strong H1 2026 Earnings, Announces ASX Secondary Listing
Crypto Action Bias: BNB/USD Leads Bullish Momentum as Major Pairs Neutralize 



