Coinbase's Diverse Growth Path, From Trading Volumes to Blockchain Innovations: Analyst
Coinbase's Diverse Growth Path, From Trading Volumes to Blockchain Innovations: Analyst
JMP analyst Devin Ryan maintained a Market Outperform rating on Coinbase Global, Inc (NASDAQ:COIN) with a $300 price target.
JMP分析師德文·瑞安維持了對Coinbase Global, Inc（納斯達克股票代碼：COIN）的市場跑贏大盤評級，目標股價爲300美元。
The analyst has identified the firm since its inception report on Coinbase in 2021 as having potential beyond merely a cryptocurrency exchange.
該分析師認爲，自2021年在Coinbase上發佈報告以來，該公司不僅具有加密貨幣交易所的潛力。
He said that significant growth opportunities within the exchange business are likely as the market matures, with rising prices generally correlating positively with activity.
他說，隨着市場的成熟，交易所業務可能會有重大的增長機會，價格上漲通常與活動呈正相關。
Notably, Coinbase's spot-trading volumes in the first quarter of 2024 have seen an approximate 106% increase over the fourth quarter of 2023 and a 108% increase over the first quarter of 2023.
值得注意的是，Coinbase在2024年第一季度的現貨交易量比2023年第四季度增長了約106％，比2023年第一季度增長了108％。
Its derivatives platform has also shown rapid growth, with daily volumes in the current quarter reaching $689 million, a significant jump from $178 million in the previous quarter.
其衍生品平台也顯示出快速增長，本季度的日交易量達到6.89億美元，較上一季度的1.78億美元大幅增長。
Beyond exchange trading and custody services, Coinbase is seen as playing a vital role in the development of blockchain use cases, including tokenization of real assets in partnership with BlackRock, payments and remittance in early stages of development, Web3, and decentralized applications, Ryan noted.
瑞安指出，除了交易所交易和託管服務外，Coinbase被視爲在區塊鏈用例的開發中發揮着至關重要的作用，包括與貝萊德合作對實物資產進行代幣化、開發初期階段的支付和匯款、Web3和去中心化應用程序。
Coinbase's Layer 2 blockchain, Base, is quickly scaling with increasing applications and usage.
隨着應用程序和使用量的增加，Coinbase的第二層區塊鏈Base正在迅速擴展。
Additionally, Coinbase will likely contribute to and benefit from the innovation in staking and other crypto-native businesses.
此外，Coinbase可能會爲質押和其他加密原生業務的創新做出貢獻並從中受益。
Coinbase is positioned not just as a competitor but as a partner for non-crypto native firms entering the space, including corporations, merchants, sovereign states, and traditional institutions, he added.
他補充說，Coinbase不僅被定位爲競爭對手，而且是進入該領域的非加密本地公司的合作伙伴，包括公司、商人、主權國家和傳統機構。
The anticipated adoption of spot Bitcoin ETFs is a significant catalyst for the industry.
現貨比特幣ETF的預期採用是該行業的重要催化劑。
As per Ryan, ETF structures are considered transformational, potentially leading to $220 billion in flows, higher prices, and tremendous benefits to Coinbase.
根據瑞安的說法，ETF結構被認爲是變革性的，可能爲Coinbase帶來2200億美元的流量，更高的價格，並給Coinbase帶來巨大的收益。
The introduction of ETFs will likely accelerate Coinbase's revenue, supported by recent trading volume data.
在最近的交易量數據的支持下，ETF的推出可能會加速Coinbase的收入。
Moreover, the analyst noted that the traditional wealth management space, associated with approximately $25 trillion in capital, has yet to fully engage with the market, presenting a substantial opportunity for future growth and adoption.
此外，該分析師指出，與約25萬億美元資本相關的傳統财富管理領域尚未完全融入市場，這爲未來的增長和採用提供了巨大的機會。
Ryan projected first-quarter revenue and EPS of $1.23 billion and $0.84.
瑞安預計第一季度收入和每股收益爲12.3億美元和0.84美元。
The stock gained over 233% in the last 12 months. Investors can gain exposure to the stock via First Trust SkyBridge Crypto Industry And Digital Economy ETF (NYSE:CRPT) and Fidelity Crypto Industry And Digital Payments ETF (NASDAQ:FDIG).
該股在過去12個月中上漲了233％以上。投資者可以通過第一信託SkyBridge加密行業和數字經濟ETF（紐約證券交易所代碼：CRPT）和富達加密行業和數字支付ETF（納斯達克股票代碼：FDIG）獲得股票敞口。
Price Action: COIN shares traded lower by 1.54% at $258.53 on the last check Friday.
價格走勢：在週五的最後一次支票中，COIN股價下跌1.54％，至258.53美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免責聲明： 該內容部分是在人工智能工具的幫助下製作的，並由Benzinga編輯審閱和發佈。
Photo via Company
照片來自公司