Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong said on Sunday that retail users on the cryptocurrency exchange showed strong resilience in the ongoing market downturn, steadily purchasing Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) during the dips.
Coinbase Encountering Retail Accumulation
Armstrong highlighted on X a rise in native Bitcoin and Ethereum units held by retail users on the platform.
“They’ve been buying the dip,” he stated. “They have diamond hands – vast majority of customers had native unit balances in Feb equal to or greater than their balances in December.”