Coinbase's share price fell by 15.34% on October 31, 2024, marking its largest daily drop in over two years, coinciding with significant declines in the broader stock market. Despite missing analysts' earnings estimates, traders express confidence in Coinbase's recovery and earnings potential for 2025. The trading day closed with Coinbase at $179.25, the largest intraday decrease since July 26, 2022. After-hours trading showed a slight rebound of 1.43%. While transaction revenues decreased by 27% quarter-over-quarter to $573 million, this figure represents a significant year-on-year increase. Analysts note that Coinbase is still trading below its IPO price of $250, leading to discussions about its competitive position against MicroStrategy, which recently surpassed Coinbase in market capitalization. Market volatility is expected in the lead-up to the U.S. election on November 5, 2024, adding further uncertainty to trading conditions.

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