Key Points
Coinbase is one of the best ways to get indirect exposure to cryptocurrencies.
The stock is down more than 40% over the last year, underperforming Bitcoin and Ethereum.
- 10 stocks we like better than Coinbase Global ›
Since its Nasdaq debut as a publicly traded company, Coinbase Global (NASDAQ: COIN) has been one of the best ways to invest in the rise of cryptocurrencies. The company is a leading crypto exchange, so buying Coinbase stock is a way to -- hopefully -- profit from crypto's evolution without holding actual coins.
With President Donald Trump's embrace of the crypto space, one might think this is a great time to buy Coinbase stock. But cryptos have been weak in recent months. Bitcoin and Ethereum, the two leading cryptocurrencies, have both been down more than 20% over the last year.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
That's been a big part of the 40% drop in Coinbase stock over the last 12 months. But as the company prepares for its Feb. 12 earnings report covering the fourth quarter of 2025, this is a good time to take a fresh look at the stock and see whether it still has a place in your portfolio.
About Coinbase Global
Coinbase has a broad reach, operating in more than 100 countries and claiming $516 billion in assets on its platform as of Sept. 30, 2025. Its platform makes it easy to buy and sell a variety of assets overseas and, at this writing, supports 370 tradable assets.
Image source: Getty Images.
In addition to providing a platform for cryptocurrency trading, Coinbase also offers a premium service, Coinbase One, with subscription plans as low as $5 a month and zero-fee trades, rewards, and benefits.
Net revenue in the third quarter was $1.86 billion, up 55% from the previous year; trading volume was $295 billion, up 24% from the previous quarter. And while cryptocurrency transaction revenue remained strong, it's notable that there's been a significant shift away from Bitcoin over the last year toward other assets, such as XRP.
|
Transaction Revenue (% of Total) |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
|---|---|---|---|---|---|
|
Bitcoin |
35% |
27% |
26% |
34% |
24% |
|
Ethereum |
16% |
10% |
10% |
12% |
17% |
|
Solana |
11% |
7% |
10% |
7% |
7% |
|
XRP |
6% |
14% |
18% |
13% |
14% |
|
Other assets |
32% |
42% |
36% |
34% |
38% |
Data source: Coinbase.
So, even though the cost of cryptocurrencies is going down, Coinbase revenue has been solid. Plus, it's seeing benefits from the growing adoption of stablecoins, which are digital currencies pegged to the value of a physical asset, such as the dollar.
What can you expect from Coinbase earnings?
Cryptocurrencies are having a tough time right now -- according to CoinGecko, digital assets have lost nearly $500 billion in market value since Jan. 29. Bitcoin is among the biggest losers, trading at its lowest level since Election Day 2024.
COIN Revenue (TTM) data by YCharts.
Analysts surveyed by Yahoo! Finance have a consensus revenue estimate of $1.86 billion for Coinbase when it reports Q4 earnings, and earnings per share of $1.39. Its sales estimate is down 18% from what it posted a year ago, so I would not be surprised to see the stock take a short-term hit after itsearnings callon Feb. 12.
However, I've never believed that trying to time the market is a winning strategy. For a long-term investor, Coinbase is attractive as it's expected to grow its revenue substantially in the next several quarters, and it's becoming more diversified in its offerings.
I still believe that Coinbase has a solid investment thesis and is a good way to gain indirect exposure to the crypto market.
Should you buy stock in Coinbase Global right now?
Before you buy stock in Coinbase Global, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Coinbase Global wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $443,299!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,136,601!*
Now, it’s worth noting Stock Advisor’s total average return is 914% — a market-crushing outperformance compared to 195% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of February 8, 2026.
Patrick Sanders has positions in Ethereum. The Motley Fool has positions in and recommends Ethereum, Solana, and XRP. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
