Crypto Trading Volumes on the Rise as Market Interest Resurges

Published: 12/12/2023

Author: Sid Rajeev, B.Tech, CFA, MBA

Crypto Trading Volumes on the Rise as Market Interest Resurges - Main Image

*See important disclosures at the bottom of this report

Sector: Financial Services | Industry: Capital Markets

Ticker Symbols:

BIGG.CN - PNK 🔹

BBKCF - NASDAQ 🔹

BIGG - NASDAQ 🔹

Rating and Key Data

Metrics	Value
Current Price	US $0.27
Fair Value	US $0.47
Risk	4
Week Range	US $0.12 - 0.55
Shares O/S (M)	318
Market Cap. (M)	US $86
Current Yield (%)	n/a
P/E (forward)	n/a
P/B	2.7

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Highlights

In Q3, revenue was up 7% QoQ, but fell 2% below our estimate due to lower than expected trading volumes. EPS was down 7% QoQ to -$0.01, falling short of our forecast by 1%.

Trading volumes were up 5% QoQ (down 18% YoY), but 18% lower than our estimate. In comparison, Coinbase (NASDAQ: COIN), operator of the largest crypto exchange in North America, experienced a 52% YoY decline in volume.

Global crypto trading volumes have surged post-Q3, driven by higher crypto prices, and increasing prospects of global central bank rate cuts in the next six months. In November, BIGG’s tradin

Rating and Key Data