Crypto Exchange Coinbase Actions (COIN) He rose to his highest level from his debut in Nasdaq in April 2021 on Thursday, which led the circle almost complete after falling more than 90% during the depths of the winter crypt of 2022.
Coin reached $ 382 on Thursday before reducing some of the profits and closed more by 5.5%. The action doubled since it was submerged along with the panic of the market induced by the April rate.
The Coinbase 2021 list marked a decisive moment for the digital asset industry, but also pointed out a crypto peak. The action rose as high as $ 382 before sliding more than 90% amid the prolonged 2022 bass market.
Now, investors are increasingly positioning Coinbase as a long -term winner in the next phase of cryptographic growth, defined by the increase in the adoption of Stablecoin, institutional participation and the increase in regulatory clarity of the United States.
The company recently launched Coinbase Payments, a new service aimed at expanding the footprint in global trade. Built in the Ethereum Layer-2 network in Coinbase, the platform, the platform allows merchants to accept Payments from USDC 24/7 without the need for experience in blockchain. It is already integrated with platforms like Shopify, said the company.
Coinbase also benefits from the rapidly growing stablecoin sector, which has an income exchange agreement with Circle (CRCL)USDC Stablecoin issuer, which gives a cut of the yield generated by the reserve assets.
The widest backdrop is also supported. S&P500 and NASDAQ Notch, and companies related to cryptography such as Robinhood (HOOD) He has also enjoyed the renewed interest of investors.
Some analysts expect more rise.
Benchmark increased its objective price to $ 421 in Coin, saying that the company is well positioned to capitalize the possible legislation of the United States, including invoices to regulate the established established and the structure of the digital asset market.
Meanwhile, Bernstein place A more ambitious objective of $ 510, which calls the emerging “Coinbase Crypto, unite retail users, institutional investors and chain infrastructure on a global scale.
Read more: Coinbase is the most misunderstood business in Crypto, says the analyst with the best price of Wall Street Target
