📉 [Analysis] Coinbase revenue could decline 55% in 2019 - The Block

Monthly crypto exchange trading volumes are down more than 80% from their December 2017 highs. Coinbase Pro has taken an exceptionally hard hit thanks to the bear market and competitive pressure from Maltese exchange giant, Binance.

An October report from Bloomberg showed the staggering growth of Coinbase when the company went from $17 million in revenue with a $16 million loss in 2016 to $923 million in revenue with $380 million in profits in 2017. Coinbase was projecting $1.3 billion in revenue for 2018 leading up to a $300 million Series E financing in October that pegged the exchange’s valuation at $8 billion. However, back of the envelope analysis shows it’s unlikely Coinbase actually hit its projections, and may have a down year in 2019 absent the start of another bull run. The Block projects Coinbase revenue could come in at just $545 million in 2019.

They’ll be ok, though. The company is likely sitting on $1 billion in cash amidst the broader market slump.

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