Stock price when the opinion was issued
Coinbase is at the forefront of developing critical blockchain infrastructure and is really the main and only player in the US crypto space. COIN has helped to begin bridging the gap between the traditional finance world and the crypto network layer. For 2024 COIN aims to focus on driving revenue through improving its core trading and USDC (US dollar stablecoin), driving utility in crypto with experiments in payments using USDC and Base (its layer-2 chain), and drive regulatory clarity of the industry.
It launched a layer-2 network on the Ethereum blockchain called Base, which has seen transaction volume skyrocket over the past month, and it now has $1.5B in total value locked. The company continues to innovate by offering a coinbase smart wallet which allows for easy onboarding and storage of private keys for users. Through certain 'on-chain' metrics, we can see that trading volumes have surged in March 2024, and it is possible that Coinbase will have a strong Q1.
COIN is expecting to report in early May, although the date is not yet confirmed. Overall, as the leading centralized crypto ecosystem company in North America, we like COIN in the current market backdrop.
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Coinbase, Inc. is a leading cryptocurrency exchange platform, allowing users to buy, sell, and hold various digital currencies like Bitcoin, Ethereum, and others. Since its founding in 2012, the company has grown significantly, becoming one of the most recognized and reputable names in the cryptocurrency space. Coinbase went public through a direct listing on the NASDAQ in April 2021, which was a notable milestone showcasing its expansion. The company has continued to innovate and expand its services, moving beyond traditional trading to include additional financial services like lending and staking. Social media mentions are up 118.4% in the past 24h.