Is Coinbase (COIN) a Good Buy?

As the only US-based, publicly traded cryptocurrency exchange, Coinbase (COIN) stock has been subject to extreme volatility since its April 2021 IPO.

However, the number of consumers talking about utilizing Coinbase to buy, sell, hold, and trade cryptos has exploded to new highs in recent months.

Coinbase’s ‘Usage Mentions’ are showing promising short-term and long-term growth: +690% YoY, +63% QoQ, and +41% higher than the 2018 high (90-day moving average).

Shares have fallen more than -40% from the highs seen on COIN’s first day of trading, with the recent correction in Bitcoin’s price weighing heavily on the exchange’s valuation.

Considering the robust underlying userbase growth seen on the chart above, the current price level could represent a buying opportunity for investors who don’t mind a bit of exposure to the inherently unpredictable cryptocurrency space.