Crypto Exchange Coinbase (Coin) is still one of the most misunderstood companies in the digital asset space, said Bernstein of Wall Street Bernstein on Wednesday.
Bernstein raised his coinbase price objective to $ 510 of $ 310, and reiterated his higher rating of the action. Wednesday morning shares were more than 4% higher in around $ 360 in early negotiation.
While the broader feeling inclines bassist, Coinbase is consolidating its role as the “Universal Bank” of Crypto, and is joining retail, institutional and chain infrastructure on an unparalleled scale by colleagues, according to the report.
“Coinbase will be a beneficiary of the Genius Law and will soon follow the law of clarity,” wrote the analysts led by Gautam Chugani.
Bernstein said the exchange is the only crypto-national company in the S&P 500 and continues to dominate the trade in the United States despite competitive pressure.
The Stablecoin de Coinbase business, responsible for approximately 15% of total income, is rapidly expanding with integrations such as Shopify, the report said.
On the institutional side, Coinbase drives custody for eight of Bitcoin’s ETF emitters, said the corridor.
With its recent acquisition of Deribit, the exchange of larger cryptographic options worldwide and the explosive growth of its Ethereum Layer 2 network, base, which is already hosting tokenization pilots such as the JPMD JPMorgan currency, Coinbase is silently assembling the central infrastructure of the next financial system, the report added.
Read more: Coinbase is well positioned to benefit from the cryptographic regulatory clarity of the USA. UU.: Benchmark
