BIGG Digital Assets Inc.
Crypto Trading Volumes on the Rise as Market Interest Resurges
Published: 12/12/2023
Author: Sid Rajeev, B.Tech, CFA, MBA
Sector: Financial Services | Industry: Capital Markets
| Metrics | Value |
|---|---|
| Current Price | US $0.27 |
| Fair Value | US $0.47 |
| Risk | 4 |
| 52 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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Report Highlights
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
