Coinbase (COIN) is the Most Misunderstood Crypto Business, Bernstein Says

Crypto Exchange Coinbase (Coin) remains one of the most misunderstood companies in the area of ​​digital assets, said the Wall Street Barnstein broker in the research report on Wednesday.

Bernstein has increased its Coinbase price goal to $ 310 from $ 310 and repeated its outperform rating on stocks. Wednesday morning shares were more than 4% higher to approximately $ 360 in early trading.

While the wider sentiment is loaded, Coinbase strengthens its role “Universal Bank” Crypto and spans the retail, institutional and institutional and on-sear-on infrastructure on the scale of unrivaled peers, the report said.

“Coinbase will be the recipient of the law of Genius and will soon be governed by the law on clarity,” wrote analysts led by Gautam Chhugani.

Bernstein said that the stock exchange is the only cryptomorode of the S&P 500 and continues to dominate American trading despite competitive pressure.

Coinbase’s Stablecoin Business, responsible for about 15% of total income, is rapidly expanding with integration as as as ShopifyThe report has been listed.

Based on the institutional Party of Coinbase Powers for eight out of eleven bitcoin issuers ETF, the broker noted.

With its recent acquisition DerivativesThe largest crypto possibilities of exchange globally and explosive growth of its Ethereum Layer 2 network, a base that already organizes tokenization pilots like JPMORGAN’S JPMD COINCoinbase quietly assembles the basic infrastructure of another financial system, added a message.

Read more: Coinbase has a well position to benefit from us crypto regulatory clarity: benchmark