Coinbase It crossed a large prominent mark, reaching the market value of more than $ 100 billion amid a renewed momentum in the encryption sector.
According to Google’s funding DataCoinbase (Coin), the highest new level ever reached at $ 398.50 during trading hours on July 14. However, the value of the stock has ended about 394 dollars per day, which reflects an increase of 2 % during the period.
Looking at this performance, Kylie Reidhead, the owner of the Medile Milk Crypto Media Outlet, Proposal This Coinbase can grow into a trillion dollars.
The Coinbase’s path in the appearance of Amazon in retail and Netflix likened to entertainment, adding that the US -based encryption exchange is set for itself as a “promotion” of the current financial system.
Raidid noted that this site can help Brian ArmstrongThe company exceeds the traditional banking giants such as JPMorgan as the encryption infrastructure becomes more integrated with the prevailing financing.
Why do Coinbase stocks combine
In part, due to improving the total conditions for the encryption industry, high digital asset prices, and the company’s expanding role in integrating traditional financing with the emerging industry.
that it Insert in the S&P 500 index Earlier this year, the increasing confidence indicated the basics and profitability of the stock exchange. This step is also expected to increase the institutional property, as the index funds are modified.
Currency shares also coincided with high encryption prices, especially BitcoinWhich rose to the highest level of more than $ 120,000 on the same day.
Is Coinbase exaggerated?
Despite positive expectations, some analysts believe that Coinbase’s evaluation may be amplified.
They have 10x analysts to caution This Coinbase’s estimation may be exaggerated, especially since institutional investors prefer adult bitcoin miners as an agent of the higher encryption origin.
According to the company, Coinbase is still trading strongly as well as Bitcoin, although both assets suffer from gains.
The company mentioned:
“Coinbase is still exaggerated for Bitcoin, although both have gained. Only a few assets appear, including Circle and Robinhood a stronger momentum than Bitcoin.”
It is worth noting that HC Wainwright has recently reduced the Coinbase rating from Buy to Sell, noting that it gathered 150 % during the past quarter and a price rate of profitability that may not reflect the basic basics.
