Coinbase’s (currency) Lynic is expected Results of the second quarter A sharp sale on Friday sparked the standards of Wall Street broker says that the decline is the opportunity to buy, not a red mark.
Analyst Mark Palmer reiterated his classification for purchase and the goal of $ 421. He said that the long -term investment issue on the stock exchange is still sound, as the company continues to build the constitutive encryption infrastructure.
The shares are 1.8 % higher in early trading on Monday, after closing 16.7 % less on Friday.
The standard highlights five incentives that support their thesis. First, the Coinbase’s revenue sharing agreement with Circle is placed on USDC to take advantage of the adoption of Stablecoin, especially after the United States approved genius law.
Second, its institutional presentations, including primary mediation, and encryption as service and derivatives, are well timed because the law of clarity may stimulate more adoption.
Third, the company develops the “Super App” Crypto application that merges trading, payments, Not explosive symbols (Nfts)and The decentralized financing (Defi) The tools of developers are a unique product in the United States market.
Fourth, the integration of decentralized stocks expands the arrival of the distinctive symbol beyond the central menus.
Finally, Coinbase is estimated at 360 million dollars in July, with transaction revenues, by 44 % of the monthly average during the second quarter, indicating a possible recovery in the encryption activity.
Benchmark concludes that Miss Quarter is a short -term noise. The advanced Coinbase platform, which is supported by the back wind of regulations and increased institutional demand, indicates long -term growth.
Read more: Coinbase slides nearly 20 % in the worst weekly performance since September 2024
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