Why Coinbase Stock Was Doing Better Than Most Cryptos on Friday
In what's been a very downbeat week for cryptocurrencies generally, shares of Coinbase (NASDAQ: COIN) were holding up rather well. In late trading on Friday, the crypto exchange operator's stock was down by 0.7%, only slightly more than the S&P 500 index and notably above to the 3% slide of Bitcoin, for example, or Ethereum's 6% decline.
Cryptocurrency and related assets are hardly any investor's top choice right now. The Federal Reserve has signaled that it will raise key interest rates this year and withdraw from bond-buying, a move that for various reasons should negatively affect cryptocurrency investments.
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Source Fool.com
