Coinbase, the leading U.S.-based cryptocurrency exchange, saw its first-quarter revenue decline by 10%, falling short of analyst expectations despite a broader crypto market rebound. The company attributed the dip to decreased trading activity, with analysts pointing out that even as Bitcoin price surged to nearly $100,000 during the period, user engagement remained subdued. This resulted in a drop in transaction revenue, settling at $1.26 billion compared to the estimated $1.33 billion. While Coinbase’s stablecoin segment saw growth, with revenue rising 32% year-over-year, its core trading activity failed to meet expectations. The company reported total revenue of $2.03 billion, slightly down from the previous quarter, missing analysts’ estimates by a significant margin.