Yesterday's rather dismal performance in the cryptocurrency market has many investors down. As of 1 p.m. ET, Cardano (CRYPTO: ADA), The Sandbox (CRYPTO: SAND), and Binance Coin (CRYPTO: BNB) each regained some of yesterday's losses. Interestingly, Cardano is among the blockchains that's seeing interest build on this crypto market sell-off.
Robinhood (NASDAQ: HOOD) and Coinbase (NASDAQ: COIN) were both once considered disruptive fintech companies. Robinhood challenged traditional brokerages with commission-free trades for stocks, exchange-traded funds (ETFs), options, and cryptocurrencies. Coinbase emerged as one of the world's largest cryptocurrency exchanges.
If you follow the large U.S.-based cryptocurrency exchange Coinbase (NASDAQ: COIN), you probably know that the stock has been getting crushed this year. Since going public a little more than a year ago, shares of Coinbase are down more than 80%. Let's look at why Coinbase's stock is down so much and whether or not it's a buy.