Coinbase’s stock (COIN) got slammed after their Q3 earnings report revealed that monthly transacting users dropped from 8.8 million in Q2 to 7.4 million in Q3, a 16% drop. However, the Q3 number was up from the same period last year, which was 6.1 million.

This isn’t a complete surprise as our website traffic report for shows a significant drop in website visitors from Q2 to Q3. The estimated desktop visitor traffic in Q2 was 47,580,388 as compared to Q3 where it was 32,475,637. This represents a 31.7% quarter-over-quarter drop. The drop in visitor traffic is nearly double the drop in transacting users. This is likely due to a significant number of non-transacting visitors on the site, which wouldn’t be included in Coinbase’s transaction numbers. Website Traffic (Q2 – Q3 2021)

Our year-over-year website traffic report also reflects the increase that Coinbase reported in transacting users. During Q3 2020, the coinbase website pulled in an estimated 18,248,607 desktop visitors. This represents a 78% increase over Q3 2021. Website Traffic (Q3 2020) Website Traffic (Q3 2021)

While the y/y growth is impressive, the q/q drop shows just how volatile the crypto sector can be. This volatility represents opportunity for investors looking to capitalize on stock movements, like we saw in Coinbase this week. Consider include website traffic analysis when doing your due diligence on companies, especially prior to earnings reports which typically happen 40+ days after the prior quarter ends, and long after we have this data available.

For more information on the website traffic patterns of crypto companies, check out our Crypto Exchanges category or search for a specific crypto website.

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