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Coinbase and Circle Plunge 69% and 72% as Crypto Stocks Fall Far Deeper Than Big Tech

Price Volatility Stocks

2026-06-29 09:19:25

According to Cointelegraph, on June 28, Coinbase and Circle stocks tumbled 69% and 72% respectively from their peaks, far exceeding declines in major tech stocks including Oracle, Salesforce, and Netflix, which fell 48%-57% from recent highs. The S&P 500 Index dropped only 3.5% over the same period. Bitcoin fell below $60,000 this week, representing a cumulative decline of over 54% from its October peak, while Ethereum dropped to around $1,500, down approximately 69% from last year's high. Coinbase's first-quarter earnings significantly missed Wall Street expectations, with revenue declining 21% quarter-over-quarter and a loss of $1.49 per share, compared to analyst expectations of $0.27 per share profit.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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