Coinbase (COIN) has established the most climbing industry cryptocurrency trade platform with an internal market share of around 66%, Benchmark said in a report on Wednesday, while starting the coverage of the shares.
Benchmark assumed the coinbase coverage with a purchase rating and an objective price of $ 252. The shares were more than 4% higher in around $ 198 in the early negotiation.
Exchange Crypto offers a “integral set of products and services aimed at facilitating the adoption and use of digital assets by retail and institutional investors,” analyst Mark Palmer wrote.
The corridor said that the action has almost been reduced by half since the beginning of December, and at the current levels the price of the action does not soon reflect to improve the cryptographic environment.
The low price performance of the shares may be coming to an end as cryptographic regulatory clarity is closer to the US, particularly for Stablcoins, where Coinbase has skin in the game with its participation in the USD currency (USDC), according to the report.
Regulation is approaching. Earlier this month, a Committee from the House of Representatives joined the Senate counterparts to advance a bill to be considered by the General Chamber, approaching Stablecoin regulations to reality.
“As these key pieces of digital asset legislation are enacted in the coming months, there could be a new wave of cryptography demand for an expanded set of institutional investors,” said Palmer.
The company’s diversified products offer is also positive, and Coinbase’s assessment will benefit from its “non -commercial growth offers and faster growth services,” the report added.
Read more: The Stablecoin market could grow to $ 2T in the late 2028: Standard Chartered
