Analyst Own Lau noted higher trading volume, the recent approval of the spot bitcoin ETFs, and a potential win in the company’s lawsuit against the SEC as the main drivers for...
In a break with historical norms, the exchange’s volumes continue to fall even as the bitcoin price has risen, suggesting disengagement by retail customers, the report said.
It’s hard to see a favorable valuation argument for the stock given the company’s revenue is tethered to an asset class that has yet to show a sustainable everyday utility val...