“The Leading Us Digital Asset Exchange Is Cementing Its Role As Crypto’s Universal Bank, The Wall Street Bank’s Analyst Team SAID.”, – WRITE: www.coindesk.com
Bernstein raised Its Coinbase Price Target to $ 510 from $ 310, and Reiterated ITS Outperform Rating on the Stock. The Shares Wednesday Morning Were More than 4% Higher AT AT AUND $ 360 in Early Trading.
While Broader Sentiment Leans Bearish, Coinbase Is Cementing Its Role As Crypto’s “Universal Bank Report Said.
“Coinbase will be a Beneficiary of the genius Act and Soon to Follow Clarity Act,” Analysts Led by Gautam Chhugani Wrote.
Bernstein Said the exchange is the only Crypto-Native FIRM in the S&P 500 and Continutes to Dominate US Trading Despite Competitive Pressure.
Coinbase’s Stablecoin Business, Responsible for Roughly 15% of Total Revenue, Is Scaling Rapidly with Integrations Like Shopify, The Report Noted.
On the Institute Side, Coinbase Powers Custody for Eight of the Eleven Bitcoin etf Issuers, The Broker Noted.
With it recent acquisition of Deribit, The Largest Crypto Options Exchange Globally, and the Explosive Growth of It Ethereum Layer 2 Network, Base, Which is Alreadi Host. JPMorgan’s JPMD Coin, Coinbase Is Quietly Assembling the Core Infrastructure of the Next Financial System, The Report Added.
Read More: Coinbase is Well Positioned to Benefit from US Crypto Regulatory Clarity: Benchmark
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