Coinbase shares rise to homing near the record, as the company launches the company “Amazon One-Stop Amazon” from Crypto Services

Coinbase (Coin) was on the right track to publish his first record within about four years on Wednesday, as Bernstein’s analyst was launched on the Crypto Cracks.

On Wednesday, 3 % shares rose, trading near $ 358 each, higher than their record from November 2021.

“Coinbase is the most misunderstanding companies in our world of encryption coverage,” wrote the Bernstein Chhogani analyst and his team on Wednesday morning, raising its target price to $ 510 from $ 310 while maintaining the superior performance classification.

Since the only Cryptocurrency in the S&P 500 (^GSPC), Coinbase dominates the American encryption trade, runs the largest stablecoin between the stock exchanges, and works as a guard for the basic assets of the bitcoin majority in the United States.

“COIN has also added many fast -growing companies such as institutional nursery, Blockchain basic services and the main lending office …. Thus, as” Amazon of Crypto Financial Services “, it provides Crypto Financial Trading services.”

Analysts noted that the bear the thesis on Coinbase was not played.

“Coinbase’s market share was fixed despite the new competition,” Choujani wrote. “The traditional mediation competition is several months of launch, and it is an eternity in the timelines for encryption.”

Even Coinbase’s leadership highlighted the company’s breadth.

Under an estimate: Coinbase Participant founder and CEO Brian Armstrong wrote at X Wednesday Morning on Wednesday morning, and he is working to integrate encryption for ~ 200 banks, mediation, payment companies, and payment companies.

Coinbase has increased by more than 40 % since the Senate Genius has passedA bill that creates a federal framework for Stablecoins, backed by assets such as the US dollar.

On Tuesday, Sean Farrell, head of the Fundstrat Digital Strategy, said that investors may still have opportunities to enter the trade if they miss the last height.

“I still think there is an additional aspect of Coinbase here, despite the evil gathering we have seen,” he said.

Other coding shares have also increased this year amid the adoption of the institutional institutions of Bitcoin (BTC-UsdAnd momentum on the organization of Stablecoin.

circle (CRCLSource Stablecoins USDC More than 600 % rose since Public subscription On June 5.

At the same time, the Robinhood platform (CabbotIt increased by 126 % on an annual basis, while the strategy (Mstr), Which has the largest amount of bitcoin between any other public company, increased by 32 % during the same period.