The cryptographic industry is expected to join the main financial current in the US.
Bernstein initiated the coverage of cryptography exchange with a higher performance rating and an objective price of $ 310. About 41% of Wall Street analysts have a purchase rating in the shares, 7% is sold and the rest, according to FACTSET data. The shares fell 2% to $ 185.20 in the first operations.
Regulatory clarity will result in a greater competition for coinbase of Fintech, corridors and banks, according to the report.
Even so, it is expected that a “solid bullish market and domain on land in the cost” is more than compensating the market share and price pressures, they wrote analysts led by Gautam Chungani.
An improved regulatory backdrop under the new administration of Donald Trump is considered a great tail wind for digital assets, and the president has promised to make the United States the “cryptographic capital of the world.”
The Bag and Securities Commission (SEC) has formed a new cryptographic working group led by Commissioner Hester Peirce to write new regulations for the industry.
Coinbase has done well in diversifying beyond trade, according to the report, and the exchange now has a strong presence in the statistics of US dollars and cryptographic performance services, such as the bet.
Bernstein said he hopes that he will increase non-commercial income at an annual compound growth rate (CAGR) of around 31% between 2024-2026.
This provides a “strong balance for the cyclicity of commercial income,” the report added.
Coinbase recently assured the Fiu registry, raiding the way for a return to the Indian market, the company said in a blog post earlier this month.
Read more: Coinbase plans the return of India after ensuring the regulatory registration with fiu
