The Motley Fool fool.com 02 Aug, 2022 21:30 am

Why Coinbase and Crypto Jumped on Tuesday

Why Coinbase and Crypto Jumped on Tuesday
News wasn't great from the crypto market, but a "risk on" trade may have saved the day.

The crypto market turned positive on Tuesday as investors poured back into riskier assets.Earnings were relatively positive on Monday after the market close and Tuesday morning and that is pushing riskier assets higher today.Investors were pleased with earnings reports and jumped back into riskier assets, which cryptocurrencies definitely fall into.More important news for Coinbase will come out next week when the company reports earnings.

Investors will want to see how trading levels are holding up, but keep in mind that revenue streams from staking, cloud services, and other products will be an important piece of the company's future.Investors should want to see more activity from developers and Coinbase is enabling that development.

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