Coinbase股票价格一直在努力将其脖子伸出高于200美元的价格水平

上周对于Coinbase股东来说，令人失望。这是因为股票价格一直在努力将其脖子伸出高于200美元的价格水平

Last week turned out rather disappointing for Coinbase stock (NASDAQ:COIN) shareholders. This is because the stock price has been struggling to stick its neck above the $200 price level, contrary to expectations. However, the reasons behind this outcome may potentially underscore some good times ahead.

上周，Coinbase Stock（NASDAQ：COIN）股东感到非常失望。这是因为与期望相反，股价一直在努力将其脖子贴在200美元的价格水平上。但是，这种结果背后的原因可能可能强调未来的一些美好时光。

Coinbase stock price has been tracking the crypto market closely for quite a while now. However, it appears to have lost that correlation since the last 5 days of April, during which it moved sideways and struggled to maintain bullish momentum.

Coinbase股票价格已经在很长一段时间以来一直在密切跟踪加密货币市场。但是，自4月最后5天以来，它似乎已经失去了这种相关性，在此期间，它侧向移动并努力保持看涨的势头。

The Coinbase stock price did push as high as $214.13 during the last 24 hours. However, it later pulled back to $199.32 at the time of writing.

在过去的24小时内，Coinbase股票价格确实高达214.13美元。但是，后来在写作时又回到了199.32美元。

Meanwhile, the crypto market experienced healthy demand and pushed higher in the first week of May. This underscores the aforementioned divergence which suggests that COIN value did not derive significant demand from the latest upside.

同时，加密货币市场经历了健康的需求，并在5月的第一周提高了。这强调了上述差异，这表明硬币价值并未从最新上升空间中得出重大需求。

Why Coinbase Share Price Has Been Moving Sideways

为什么共同股价一直在侧向上移动

COIN price action may have been influenced by multiple factors. One of the most prominent ones was the fact that it missed its Q1 earnings, hence dampening investor sentiment.

硬币价格行动可能受到多种因素的影响。最杰出的事实之一是，它错过了第一季度的收入，从而削弱了投资者的情绪。

In addition, trading revenue on the Coinbase was down by roughly 19% in the first quarter of 2025. This was largely due to the tariff war disruptions which led to a lot of liquidity being pulled out of coins and onto stablecoins.

此外，Coinbase上的交易收入在2025年第一季度下降了约19％。这在很大程度上是由于关税战争中断导致大量流动性被从硬币中抽出并进入Stablecoins。

According to Coingecko, Coinbase trading volumes in Q1 declined by roughly 10.4% compared to the previous quarter. In addition, the exchange has been losing some ground as far as dominance is concerned.

根据Coingecko的数据，与上一季度相比，第1季度的Coinbase交易量下降了约10.4％。此外，就统治而言，该交流一直在失去一些基础。

While the exchange’s underperformance may have contributed to weak investor sentiment, some analysts remained optimistic over the long term. This was mainly thanks to Coinbase’s recent Deribit acquisition.

尽管交易所的表现不佳可能导致了投资者的情绪疲软，但一些分析师在长期内仍然保持乐观。这主要归功于Coinbase最近的Deribit收购。

The acquisition is expected to boost Coinbase’s exposure to the derivatives market. Derivit already controlled a substantial share of the crypto derivatives segment before the acquisition. For context, it clocked an average of over $1 billion in daily trading revenue in the last 24 hours at press time.

预计此次收购将增加Coinbase在衍生品市场上的接触。衍生产品已经控制了收购之前的加密衍生物细分市场的大量份额。在上下文中，在过去24小时内，平均每日交易收入超过10亿美元。

Consequently, the acquisition should increase Coinbase exposure to the derivatives market and offer a significant revenue boost. Analysts expect the acquisition to favor the share price in the long term.

因此，此次收购应增加共插态对衍生品市场的曝光率，并带来可观的收入。分析师预计，从长远来看，收购将有利于股价。

Will the Acquisition Be Enough to Provide Dominance Boost?

收购足以提供优势提升吗？

Coinbase had a 6.9% marketshare in April, placing it in 6th position in the top 10 list. It is possible that the Derivit acquisition could potentially allow it to compete more effectively with other heavy hitters such as Binance.

Coinbase在4月的市场份额为6.9％，将其置于前十名中的第六名。衍生品的采集可能有可能使其与其他重型击球手（例如binance）更有效地竞争。

Improvements in some other key areas could potentially boost its efforts. For example, the exchange had the lowest weekly visits out of the top 10 crypto exchanges in the spot segment.

其他一些关键领域的改善可能会促进其努力。例如，该交易所在现货部分的前10名加密交易所中的每周访问最低。

The exchange was also present on fewer markets compared to some of its top rivals which may have also held it back. These factors highlight just how much ground the Coinbase exchange had lost to some of its better performing rivals.

与其一些顶级竞争对手相比，这种交流也在较少的市场上也存在。这些因素强调了共插基交易所交易所损失了多少基础，其表现更好的竞争对手。

Nevertheless, the market has already demonstrated significant recovery since April and appeared to be carrying the same momentum into May. These observations underscore the potential for improved investor confidence in Q2 compared to Q1.

然而，自4月以来，市场已经显示出大量恢复，并且似乎在五月持有相同的势头。与第1季度相比，这些观察结果强调了投资者对第二季度的信心的潜力。

Recovering demand and improving macro factors may push Coinbase performance in the right direction in the coming weeks. However, based on the recent massive acquisition, it was clear that the exchange was seeking redemption from the derivatives segment.

恢复需求和改善宏观因素可能会在未来几周内将共插基的性能朝着正确的方向推动。但是，根据最近的大规模收购，很明显，交易所正在寻求从衍生品细分市场中赎回。