Coinbase, a United States-based bitcoin (BTC) and cryptocurrency exchange, has executed an ambitious update with the aim of consolidating itself as a comprehensive financial application.
Despite the incorporation of new services, the stock market has reacted with disinterest, maintaining selling pressure on the company’s shares.
The evolution of your price reflects a temporary disconnection between the firm’s progress and the immediate confidence of investors in the current environment.
This update, presented on December 17, allows users to access hundreds of stocks and exchange-traded funds (ETFs) without charging commissions per operation. It is an integration that seeks for investors to manage cryptocurrency and stock portfolios simultaneously, eliminating the friction of external transfers, as reported by CriptoNoticias.
In addition, Coinbase has added prediction markets to operate on the results of economic and political events, diversifying its sources of income beyond trading bitcoin and other digital assets.
Despite these announcements, Coinbase (COIN) shares have registered an 8% drop in the last month. The price of COIN closed yesterday at $239, which represents a 46% decrease from its all-time high of $443 reached in July of this year, as seen in the graph.
Nevertheless, This decline could represent an entry opportunity for long-term investors. The financial institution Deutsche Bank has given a recommendation buy with a target price of $340, which implies an upside potential of 42% from its current market price. This is under the argument that the expansion into new financial products will boost the share price.
Under this perspective, revenue growth could exceed operating expenses by 2026, positioning the company favorably for a possible recovery in the cryptocurrency market.