Mizuho analyst Dan Dolev says analyzing April volume data points to worsening share losses in retail crypto trading for Coinbase (COIN) relative to Robinhood (HOOD). The firm’s analysis suggests that Coinbase’s share of combined Coinbase retail plus Robinhood crypto volumes trended lower in April verses the approximate 65% ratio in the prior three quarters. A potential culprit is that customers are starting to push back on Coinbase’s higher trading fees, a practice which Robinhood shied away from, the analyst tells investors in a research note. The firm reiterates an Underperform rating on Coinbase with a $27 price target.
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Published first on TheFly
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