BlockBeats News, March 18th, according to TheBlock, research and brokerage firm Bernstein's analysts have started tracking rating on Coinbase, giving it an "Outperform" rating and setting a target price of $310, which is 69% above the current price. Analysts stated in a client report released on Tuesday that despite critics' concerns about Coinbase facing increasing competition and fee pressure, they overlooked the total addressable market expansion due to the global crypto market flowing back to the United States, which the analysts described as the "US renaissance."
Bernstein expects that although Coinbase's market share in the United States is expected to slightly decrease to 60% over the next two years and will reduce the 20% retail price premium to maintain its lead, by the end of 2026, the compound annual growth rate of its trading revenue will reach 34%. Analysts also highlighted Coinbase's other services, such as cryptocurrency staking rewards, custody services, and the Ethereum Layer 2 network Base, with an expected compound annual growth rate of 31% for non-transactional revenue during the same period, totaling 33% overall.
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