Internet reports that Coinbase's share price plunged more than 15% after releasing its latest earnings report on Thursday, but brokerage firm Bernstein warned investors not to overreact, saying that "the second quarter is an irrelevant quarter" for the cryptocurrency exchange, and believes that given that the overall digital asset market only began to recover in July, its performance is basically irrelevant and is optimistic about its efforts in the second half of the year. Bernstein analyst Gautam Chhugani pointed out in a memo to clients on Friday that Coinbase's trading activity rebounded sharply in July, with trading revenue reaching US$360 million, a 44% increase from the monthly average in the second quarter. Therefore, he reiterated his "outperform" rating on Coinbase shares and maintained the target price of US$510.