{"id":47407,"date":"2023-08-11T20:45:25","date_gmt":"2023-08-12T00:45:25","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/robinhood-may-be-beating-coinbase-in-crypto-youd-never-know-from-the-stocks\/"},"modified":"2023-08-11T20:45:27","modified_gmt":"2023-08-12T00:45:27","slug":"robinhood-may-be-beating-coinbase-in-crypto-youd-never-know-from-the-stocks","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=47407","title":{"rendered":"Robinhood May Be Beating Coinbase in Crypto. You\u2019d Never Know From the Stocks."},"content":{"rendered":"
\n
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<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

Broker
\n Robinhood Markets
\n may be beating crypto-focused rival
\n Coinbase Global
\n at its own game, attracting retail traders during a tough time for digital assets, but you would never guess that from the stock market.<\/p>\n

Signs point to Robinhood (ticker: HOOD)\u2014a retail investor-focused broker with offerings across stocks, options, and crypto\u2014continuing to take market share from Coinbase (COIN), analyst Dan Dolev at
\n Mizuho
\n Securities wrote in a Friday research note.\u00a0 Mizuho rates Coinbase at Underperform with a target of $27 for the price. The stock closed at $83.39 on Thursday.<\/p>\n

\n

Coinbase lost four percentage points of market share to Robinhood in the second quarter of the year, Dolev said, adding that management commentary from both companies suggests this trend is continuing.<\/p>\n

\u201cRetail crypto traders are likely still flocking to Robinhood in [the third quarter,\u201d Dolev said. \u201cWe believe this may be tied to Coinbase\u2019s aggressive price increases for retail traders in recent months. Such increases may prove unsustainable as share losses mount.\u201d<\/p>\n

Coinbase has raised fees for the retail traders at the heart of its business in recent quarters, with so-called take rates from small traders increasing from 1.3% in mid-2022 to 2.2% in the second quarter, according to Dolev.<\/p>\n

This may be beginning to pinch the embattled crypto broker, already under pressure from a spate of regulatory issues plaguing the digital asset space. Coinbase didn\u2019t immediately respond to a request for comment from Barron\u2019s<\/em>.<\/p>\n

Coinbase guided for flat transaction revenue in July, Dolev noted, which contrasts with Robinhood management saying they \u201csaw trading volumes pick up in equities, options, and crypto compared to [the second quarter] monthly averages.\u201d<\/p>\n

It looks like Robinhood may be beating Coinbase on the crypto-focused firm\u2019s home turf. It seems to be attracting customers during a market that has seen retail investors largely stay away from
\n Bitcoin,<\/span>
\n which is seeing historically low volatility and trading volumes despite a rebound this year.\u00a0<\/p>\n

But the stock market doesn\u2019t seem to reflect this. While Robinhood stock is up 32% this year, Coinbase shares have marched 136% higher. Perhaps a reversal of sorts is overdue.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Broker Robinhood Markets may be beating crypto-focused rival Coinbase Global at its own game, attracting retail traders during a tough time for digital assets, but you would never guess that from the stock market. Signs point to Robinhood (ticker: HOOD)\u2014a retail investor-focused broker with offerings across stocks, options, and crypto\u2014continuing to take market share from […]<\/p>\n","protected":false},"author":1,"featured_media":44805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-47407","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nRobinhood May Be Beating Coinbase in Crypto. 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