BlockBeats News, April 23rd, according to Coindesk, Wall Street broker Benchmark has rated Coinbase as a "Buy", with a target price of $252. During early trading, Coinbase's stock price rose over 4% to around $198.
Analyst Mark Palmer wrote that Coinbase (COIN) is the largest cryptocurrency exchange platform in the industry, with a market share of about 66% in the United States. The cryptocurrency exchange platform offers "comprehensive products and services designed to promote retail and institutional investor adoption and use of digital assets." As U.S. cryptocurrency regulation becomes clearer, the phenomenon of underperforming stock prices may be coming to an end. Some key digital asset legislation is expected to be enacted in the coming months, and an increasing number of institutional investors may generate a new wave of demand for cryptocurrency.
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