Coinbase Plunges 1.08 as Crypto Uncertainty and Macro Factors Sink Volume to 26th in U.S. Rankings

, 2025, , ranking it 26th among U.S. stocks by volume for the day. The drop follows mixed signals from regulatory developments and market sentiment shifts in the crypto sector.

Recent reports highlighted ongoing scrutiny from U.S. regulators, including the SEC's continued push to classify crypto assets as securities, which has created uncertainty for exchange operators like Coinbase. While the company has maintained compliance with existing frameworks, analysts noted that evolving regulatory definitions could impact long-term revenue streams from trading fees and staking services.

Market participants also pointed to broader macroeconomic factors influencing crypto-related equities. , as investors remained cautious about the pace of inflation recovery and its implications for leveraged crypto market participants.

The back-test parameters for the requested analysis include an equal-weighted portfolio of the top 500 U.S. stocks by daily volume, rebalanced at close each trading day. Transaction costs and slippage are excluded, and data spans from January 1, 2022, to the present. Adjusted prices account for corporate actions such as stock splits and dividends. Implementation will involve retrieving historical volume and price data to calculate cumulative and annualized returns for the selected universe.