Crypto trading platform Coinbase (NASDAQ:COIN) will report Q2 results after the market closes (Current Cap IQ Consensus estimates Q2 adj. EPS of $3.20 on revs of $1.82 bln).
The Co may also provide commentary on its FY 21 outlook which calls for three possible scenarios for anuual average MTU:
High: Average 2021 MTUs of 7.0 million. This scenario assumes an increase in crypto market capitalization and moderate-to-high crypto asset price volatility.
Mid: Average 2021 MTUs of 5.5 million. This scenario assumes flat crypto market capitalization and low-to-moderate crypto asset price volatility. This scenario assumes a modest decline in MTUs from Q1 2021.
Low: Average 2021 MTUs of 4.0 million. This scenario assumes a significant decrease in crypto market capitalization, similar to the decrease observed in 2018, and low levels of crypto asset price volatility thereafter. In this scenario, we assume MTUs will decrease in a corresponding manner and end 2021 at similar levels to Q4 2020.
Shares have fallen close to all-time lows after briefly rising above $300 earlier in the week
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