Coinbase 1Q26回顾：收入承压，但执行层面还有亮点

SG Visual Research 图解研报

$Coinbase Global, Inc.(COIN)$

Coinbase 这份 1Q26 研报，核心不是“加密市场很强”。

事实上，市场环境仍然偏弱：

总收入 US$1.41bn，-31% YoY

Adjusted EBITDA US$303mn，低于一致预期

交易收入 US$756mn，-40% YoY

但有意思的是，在市场逆风下，公司执行层面仍有几个信号：

加密交易量市场份额提升至 8.6%

衍生品交易量同比增长 169%

Prediction Markets 年化收入超过 US$100mn

稳定币收入 US$305mn，同比增长 11%

CRCL绩后大涨！后续走势大家看好吗？

财报后“稳定币第一股”Circle涨近16%，Circle Q1营收同比增20%至6.94亿美元，净利同比降低15%，USDC流通量同比增28%。【大家看好CRCL后续涨势吗？现在你的操作策略是？】

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

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AdelaideFox
05-11 14:42
AdelaideFox
衍生品和稳定币还顶着你更看哪块

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