Crypto Exchange Coinbase (Coin) faces a weaker perspective such as uncertainties introduced by the tariffs of work and off of President Donald Trump emit a shadow on the activity of retail cryptography, Oppenheimer’s analysts wrote in a report.
The investment bank reduced its negotiation volume prognosis throughout the year at 19% to $ 1.3 billion and its estimate of the first quarter to $ 380 billion, 13% less than the previous quarter, since the appetite for the risk decreased.
Despite a generally more supportive tone of Washington, with Pro-Crypto signs of the White House, Congress and regulators, analysts said the market has not fully adopted change.
“From the elections, we have seen the president, the administration, the congress, the regulators, the executive orders and the statements of the most pro-Crypto sec that the United States is open for Blockchain businesses to attract capital, projects and talents,” wrote the analyst Owen Lau. “During the process so that the public creates in a movement of such a day and night, it is unfortunate to see that Trump’s on-and off tariffs have promoted the concern of the bears market, the fear of recession and the retreat of retail trade.”
Coinbase shares have fallen 30% this year, Low performance Bitcoin (BTC) and S&P 500, which have dropped 10% and 8%, respectively. While these numbers mark an improvement of the 2022 recession, when the currency fell 86%, they still highlight the sensitivity of the platform to broader macro signals.
Oppenheimer also reduced his 2025 and 2026 forecasts for income and profits and reduced his sharing price objective at $ 279 of $ 388, saying that retail participation can remain moderate during the uncertainty of politics. It has a higher performance qualification on the shares, which fell 1.2% to $ 173.39 on Wednesday.
An advantage: market share. Coinbase represented 69% of the Volume of Cryptographic Commerce of the USA in February, gaining ground against rivals such as Robinhood (Hood). Maintaining that leadership will depend on whether the market can shake the nerves of the rate and recover the impulse.
Oppenheimer said that despite short -term obstacles, it is still optimistic about coinbase long -term potential.
“As a leader focused on cryptography with optionality in cases of tokenization and use of payments, we believe that Coin can order a premium. In our opinion, Coin is a strong rebound stock if/when tariff tensions are broken down,” Lau wrote.
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