According to a recent report by crypto asset manager Bitwise, it is predicted that Coinbase, a leading US-based crypto exchange, will surpass Charles Schwab as the world’s most valuable brokerage in the coming years. Bitwise envisions Coinbase’s stock (COIN) to reach $700 by 2025, more than doubling its current price.
Bitwise highlights three main catalysts that will contribute to Coinbase’s stock skyrocketing. Firstly, Coinbase’s stablecoin business, particularly its USDC token, has seen significant growth with a $162 million increase year to date. Additionally, Coinbase’s blockchain technology, Base, has been generating substantial revenue every quarter. Lastly, Coinbase’s staking and custody services have experienced a remarkable 106% growth in revenue.
Bitwise also provides predictions for the top two crypto assets by market cap. Bitcoin (BTC) is expected to reach $200,000 by next year, while Ethereum (ETH) could hit $7,000. Currently, COIN is trading at $317, showing a 4.8% gain in the last 24 hours.
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