TLDR Shares of Coinbase, Gemini, and Bullish have dropped by as much as 55 percent over the past three months. Bitcoin has declined over 35 percent since its OctoberTLDR Shares of Coinbase, Gemini, and Bullish have dropped by as much as 55 percent over the past three months. Bitcoin has declined over 35 percent since its October

Coinbase, Gemini, Bullish Shares Drop Sharply as Activity Stalls

4 min read

TLDR

  • Shares of Coinbase, Gemini, and Bullish have dropped by as much as 55 percent over the past three months.
  • Bitcoin has declined over 35 percent since its October peak with January marking its fourth straight monthly loss.
  • Coinbase’s Q4 trading volume likely fell 40 percent year-on-year to $264 billion, according to analyst Owen Lau.
  • Gemini is now expected to break even in 2028 instead of 2027 due to falling trading activity.
  • Bullish saw a 28 percent decline in January trading volumes compared to the same period last year.

Trading volumes have dried up across major cryptocurrency exchanges, dragging shares of Coinbase, Gemini, and Bullish down sharply over three months. While Bitcoin’s price has fallen over 35% since October, shares of these platforms have dropped by as much as 55%, reflecting shrinking activity. With no hacks or scandals to blame, the current downturn is marked by silence and falling user interest.

Coinbase Struggles as Retail Traders Disappear

Coinbase shares have declined heavily as trading activity on the platform continues to fall throughout the fourth quarter and January. According to Clear Street analyst Owen Lau, Coinbase’s Q4 trading volume likely dropped 40% year-on-year to $264 billion. He also stated January’s figures were worse, with trading on track to bring in less than half of last year’s numbers.

This downturn is weighing on Coinbase’s core revenue model, which relies on trading fees from active users. As users stop buying and selling, fee generation has slowed sharply, weakening earnings. “When prices are going up, people don’t want to miss out, so they trade,” said Peter Christiansen of Citigroup.

Despite Bitcoin ETFs and platform upgrades, users are withdrawing from trading, seeking alternative opportunities. Some have shifted interest to AI tokens, sports betting, or small-cap stocks, reducing traffic on major exchanges. While Coinbase has explored services like custody and equities, its business model still depends on active crypto traders.

Gemini Faces Delays to Break-Even Goals

Gemini’s financial roadmap is under pressure, as declining volumes push its profitability timeline further out. John Todaro at Needham & Co. said Gemini had planned to break even by 2027 but now sees that happening in 2028. He cited reduced activity and lower platform engagement as key issues impacting progress.

Retail activity on Gemini has dropped without major incidents, leaving fewer opportunities to earn transaction-based revenue. The platform is now navigating a trading environment where user engagement is minimal. The slowdown has cut off the momentum seen earlier from retail investors during past bull cycles.

Despite building additional services, Gemini remains dependent on trader participation, which has thinned over the past several months. The absence of strong catalysts has deepened the challenge of maintaining volume. The firm is now operating in a market cycle defined more by apathy than crisis.

Bullish Sees Institutional Slowdown Continue

Bullish, which serves mostly institutional clients, has also experienced a downturn in exchange activity compared to last year. Lau reported a 28% drop in January trading volumes on Bullish, year-over-year. The decline suggests that even larger market participants are hesitating to re-engage.

The institutional space is showing caution, with clients stepping away from risk, including crypto. War headlines, AI costs, and tech losses have made investors more defensive. This has affected platforms like Bullish, which rely on steady inflows and regular trades from institutions.

Kaiko’s Laurens Fraussen stated the cycle may only be about 25% complete and could stretch another six to nine months. He believes the trading pullback could extend further before showing signs of recovery. Meanwhile, crypto stock declines are beginning to mirror past market bottoms.

A meeting between the crypto industry and the banking sector is scheduled for later Monday at the White House. The discussion will focus on resolving the Senate’s market-structure bill.

The post Coinbase, Gemini, Bullish Shares Drop Sharply as Activity Stalls appeared first on CoinCentral.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

BFX Presale Raises $7.5M as Solana Holds $243 and Avalanche Eyes $1B Treasury — Best Cryptos to Buy in 2025

BFX Presale Raises $7.5M as Solana Holds $243 and Avalanche Eyes $1B Treasury — Best Cryptos to Buy in 2025

BFX presale hits $7.5M with tokens at $0.024 and 30% bonus code BLOCK30, while Solana holds $243 and Avalanche builds a $1B treasury to attract institutions.
Share
Blockchainreporter2025/09/18 01:07
Moonshot MAGAX vs Shiba Inu: The AI-Powered Meme-to-Earn Revolution Challenging a Meme Coin Giant

Moonshot MAGAX vs Shiba Inu: The AI-Powered Meme-to-Earn Revolution Challenging a Meme Coin Giant

Discover how Moonshot MAGAX’s AI-powered meme-to-earn platform outpaces Shiba Inu with innovative tokenomics and growth potential in 2025.
Share
Blockchainreporter2025/09/18 03:15
This U.S. politician’s suspicious stock trade just returned over 200% in weeks

This U.S. politician’s suspicious stock trade just returned over 200% in weeks

The post This U.S. politician’s suspicious stock trade just returned over 200% in weeks appeared on BitcoinEthereumNews.com. United States Representative Cloe Fields has seen his stake in Opendoor Technologies (NASDAQ: OPEN) stock return over 200% in just a matter of weeks. According to congressional trade filings, the lawmaker purchased a stake in the online real estate company on July 21, 2025, investing between $1,001 and $15,000. At the time, the stock was trading around $2 and had been largely stagnant for months. Receive Signals on US Congress Members’ Stock Trades Stocks Stay up-to-date on the trading activity of US Congress members. The signal triggers based on updates from the House disclosure reports, notifying you of their latest stock transactions. Enable signal The trade has since paid off, with Opendoor surging to $10, a gain of nearly 220% in under two months. By comparison, the broader S&P 500 index rose less than 5% during the same period. OPEN one-week stock price chart. Source: Finbold Assuming he invested a minimum of $1,001, the purchase would now be worth about $3,200, while a $15,000 stake would have grown to nearly $48,000, generating profits of roughly $2,200 and $33,000, respectively. OPEN’s stock rally Notably, Opendoor’s rally has been fueled by major corporate shifts and market speculation. For instance, in August, the company named former Shopify COO Kaz Nejatian as CEO, while co-founders Keith Rabois and Eric Wu rejoined the board, moves seen as a return to the company’s early innovative spirit.  Outgoing CEO Carrie Wheeler’s resignation and sale of millions in stock reinforced the sense of a new chapter. Beyond leadership changes, Opendoor’s surge has taken on meme-stock characteristics. In this case, retail investors piled in as shares climbed, while short sellers scrambled to cover, pushing prices higher.  However, the stock is still not without challenges, where its iBuying model is untested at scale, margins are thin, and debt tied to…
Share
BitcoinEthereumNews2025/09/18 04:02