According to CoinMeta, the second-quarter performance of Coinbase ( COIN ) failed to change Wall Street's long-term views. Analysts generally believe that the recent weakness in the crypto trading environment is the main reason, rather than any specific issues with the company. The company reported revenue of $1.22 billion, and its adjusted EBITDA was $208 million, both of which fell short of expectations. The guidance for the third quarter also fell below market consensus, leading several institutions to lower their forecasts and target prices. Although the stock price fell by 6% before the opening, some optimistic analysts believe that Coinbase will still be the biggest beneficiary of the future recovery in the crypto market. Coinbase held a record 10.3% market share in global crypto trading volume, demonstrating its continued growth in market share during the industry's contraction period. Although new businesses have not yet been able to make up for the weakness in core trading revenue, analysts are encouraged by its diversification strategy.