Crypto Coinbase Crypto Actions (COIN) I have climbed to their highest level since its beginnings in April 2021 in the Nasdaq on Thursday, making the stock curl almost after plunging more than 90% during the depths of the crypto winter of 2022.
Coin hit $ 382 Thursday before winning some of the earnings and closed more than 5.5%. Actions are more than doubled from diving alongside the panic of the market induced by the April rate.
The Coinbase list in 2021 marked a moment of the watershed for the digital asset industry, but also pointed out a crypto peak. The stock increased up to $ 382 before sliding more than 90% in the middle of the extended bear market for 2022.
From now on, investors are increasingly positioning Coinbase as a long -term winner in the next cryptographic growth phase, defined by the growing adoption of stablescoin, institutional participation and the increase in American regulatory clarity.
The company has recently launched Coinbase Payments, a new service aimed at extending the footprint in world trade. Built on the Ethereum Layer-2 network in Coinbase, the basis, the platform allows traders to accept the Payments of Stablecoin 24/7 USDC without the need for blockchain expertise. It is already integrated into platforms like Shopify, said the company.
Coinbase also benefits from the rapidly growing stablecoin sector, having a income sharing agreement with Circle (CRCL)Emitter of the Stablecoin USDC, giving it a reduction in the yield generated by reserve assets.
The wider backdrop is also favorable. S & P500 and NASDAQ High Record STP shares and CYSIONS CYSIONS CYSSIONS such as RobinHOOD (HOOD) also benefited from a renewal of investors’ interests.
Some analysts expect more than the increase.
Benchmark has increased its price target to $ 421 on a corner, saying that the company is well placed to capitalize on potential legislation of the United States, including bills aimed at regulating stablescoins and the structure of the digital asset market.
Meanwhile, Bernstein together A more ambitious objective of $ 510, calling for the emerging “universal bank” of crypto coinbase, punctuating retail users, institutional investors and current infrastructure on a global scale.
Read more: Coinbase is the most ill -understood company in Crypto, explains the analyst with the highest price of Wall Street
