Coinbase (COIN Quick QuoteCOIN - Free Report) , the popular online cryptocurrency platform, closed down 1.5% on Friday after falling about 4% earlier in the session following the release of its fourth-quarter earnings report.

COIN’s top and bottom line flew past estimates. Earnings came in at $3.32 per share vs. $1.85 expected, and revenue hit $2.5 billion vs. $1.94 billion expected. Retail monthly transaction users (MTUs) jumped to 11.4 million, while the number of verified users grew to 89 million.

However, investors were concerned by the soft guidance for Q1. Coinbase anticipates that MTUs and total trading volume will be lower because of the broad decline in crypto asset volatility and crypto asset prices from all-time highs reached late last year; the total crypto market cap is also down over 20% quarter-to-date.

While worries about crypto’s energy consumption and how macroeconomic and geopolitical factors will affect crypto have grown in 2022, CEO Brian Armstrong shot down the idea of a “crypto winter” on the company’s Q4 earnings call with analysts. He still sees increased opportunities and cryptocurrency adoption over the long-term.

COIN is currently a Zacks Rank #3 (Hold), and the stock has declined about 30% year-to-date.