"Investors may see an opportunity to buy more COIN shares, who knows it will suddenly go higher next year."
Closing out 2022, Coinbase (COIN) shares suffered to all-time lows with a 6% plunge over the past five days at $32.40 per share while 87% over the year and 23.19% over the past month.
It was also reported that the net revenue of COIN which is the third largest crypto exchanger has decreased by 28% at $576 million compared to previously at $803 million following the FTX crisis.
Following the streak, the company has taken several steps to shore up its finances by laying off 1,100 workers in June.
Despite the various obstacles, some prominent investors such as Chief Executive Officer (CEO) of Ark Invest, Cathie Wood are very confident in COIN.
This follows because he has bought a large number of COIN shares around 296,578 to be placed into his company's ETF exchange traded fund.
Meanwhile, tech stocks as a whole have plunged significantly this year as the COIN listing on the Nasdaq Composite slipped 34.40%.
Nevertheless, the performance of COIN is more encouraging than mining companies, in particular Bitcoin Riot Blockchain and Marathon Digital Holdings fell around 84.96% and 90.15% respectively in 2022.
