We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Zacks Rank #2 (Buy) stock Coinbase Global operates the largest crypto exchange in the United States by trading volume. Coinbase benefits from global crypto adoption with its widespread sweet of unique crypto offerings.
After COIN debuted during the “crypto winter” of 2021, shares suffered amid falling crypto prices and the demise of its largest competitor, FTX. However, the company’s shares and fundamentals are rebounding rapidly amid widespread global crypto adoption, innovations, and a robust balance sheet. Below are some reasons why the momentum in Coinbase will continue.
Coinbase Inks Apple Pay Partnership
A significant roadblock in the crypto industry has been converting fiat currency into crypto seamlessly. Monday, Coinbase announced an initiative to smoothen the process. The Coinbase website wrote, “Today, we’re excited to announce the launch of ApplePay for all fiat-to-crypto purchases via Coinbase Onramp, the easiest tool to build onramps into your existing products.”
Earlier this year, Coinbase also announced a strategic partnership with payment giant Stripe to “expand global adoption.” The Stripe and Apple deals represent a landmark moment for Coinbase, which appears to be the de facto choice for legacy payment giants. These deals put COIN in the poll position to take advantage of further global crypto adoptions.
SEC Changes Benefit Coinbase
Coinbase arguably benefits from the Donald Trump presidential victory more than any other stock on Wall Street. President-elect Trump announced during his campaign that he plans to fire Securities and Exchange head Gary Gensler on day one. Gensler has been enemy number one of COIN because he has failed to provide regulatory clarity to Coinbase on whether certain assets should be treated as securities or commodities.
Alt Coins Soar Amid Regulatory Clarity
Though Trump has yet to step foot back in the White House, investors are bidding up “alt coins” with vengeance in an effort to discount the future. For instance, Ripple, a crypto locked in legal battles for years, is up more than 300% since the election.
The robust price action and flurry of volume are major catalysts for Coinbase which charges hefty commissions, ranging between 0.5% to 4.5% depending on the coin.
Mass Crypto ETF Adoption
Thus far, the performance and flows into Bitcoin ETFs such as the iShares Bitcoin Trust ETF, Fidelity Wise Origin Bitcoin ETF and ARK 21 Shares Bitcoin ETF have been unprecedented. The company stands to benefit Because Coinbase acts as the custody servicer for most crypto ETFs. Meanwhile, COIN may benefit further as public companies look to mirror MicroStrategy’s wildly successful “Bitcoin Standard.”
Bull Flag Pattern & Bullish Call Flow
After breaking out on election day, COIN shares are coiling in a picture-perfect bull flag pattern. Meanwhile, heavy-handed, long-term-focused call option buyers continue to enter the market, providing conviction to the current chart pattern.
COIN Sports Strong Balance Sheet
Coinbase boasts a sparkling balance sheet and a growing cash hoard despite the crypto industry’s “Wild West” reputation.
Bottom Line
Coinbase is the true market leader in the crypto industry. The stock should benefit from global crypto adoption, strategic partnerships, and a strong balance sheet.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Zacks Investment Ideas feature highlights: iShares Bitcoin Trust ETF, Fidelity Wise Origin Bitcoin ETF, ARK 21 Shares Bitcoin ETF, MicroStrategy and Coinbase Global
For Immediate Release
Chicago, IL – December 4, 2024 – Today, Zacks Investment Ideas feature highlights iShares Bitcoin Trust ETF (IBIT - Free Report) , Fidelity Wise Origin Bitcoin ETF (FBTC - Free Report) , ARK 21 Shares Bitcoin ETF (ARKB - Free Report) , MicroStrategy (MSTR - Free Report) and Coinbase Global (COIN - Free Report) .
Coinbase (COIN - Free Report) : A Crypto Powerhouse
Zacks Rank #2 (Buy) stock Coinbase Global operates the largest crypto exchange in the United States by trading volume. Coinbase benefits from global crypto adoption with its widespread sweet of unique crypto offerings.
After COIN debuted during the “crypto winter” of 2021, shares suffered amid falling crypto prices and the demise of its largest competitor, FTX. However, the company’s shares and fundamentals are rebounding rapidly amid widespread global crypto adoption, innovations, and a robust balance sheet. Below are some reasons why the momentum in Coinbase will continue.
Coinbase Inks Apple Pay Partnership
A significant roadblock in the crypto industry has been converting fiat currency into crypto seamlessly. Monday, Coinbase announced an initiative to smoothen the process. The Coinbase website wrote, “Today, we’re excited to announce the launch of ApplePay for all fiat-to-crypto purchases via Coinbase Onramp, the easiest tool to build onramps into your existing products.”
Earlier this year, Coinbase also announced a strategic partnership with payment giant Stripe to “expand global adoption.” The Stripe and Apple deals represent a landmark moment for Coinbase, which appears to be the de facto choice for legacy payment giants. These deals put COIN in the poll position to take advantage of further global crypto adoptions.
SEC Changes Benefit Coinbase
Coinbase arguably benefits from the Donald Trump presidential victory more than any other stock on Wall Street. President-elect Trump announced during his campaign that he plans to fire Securities and Exchange head Gary Gensler on day one. Gensler has been enemy number one of COIN because he has failed to provide regulatory clarity to Coinbase on whether certain assets should be treated as securities or commodities.
Alt Coins Soar Amid Regulatory Clarity
Though Trump has yet to step foot back in the White House, investors are bidding up “alt coins” with vengeance in an effort to discount the future. For instance, Ripple, a crypto locked in legal battles for years, is up more than 300% since the election.
The robust price action and flurry of volume are major catalysts for Coinbase which charges hefty commissions, ranging between 0.5% to 4.5% depending on the coin.
Mass Crypto ETF Adoption
Thus far, the performance and flows into Bitcoin ETFs such as the iShares Bitcoin Trust ETF, Fidelity Wise Origin Bitcoin ETF and ARK 21 Shares Bitcoin ETF have been unprecedented. The company stands to benefit Because Coinbase acts as the custody servicer for most crypto ETFs. Meanwhile, COIN may benefit further as public companies look to mirror MicroStrategy’s wildly successful “Bitcoin Standard.”
Bull Flag Pattern & Bullish Call Flow
After breaking out on election day, COIN shares are coiling in a picture-perfect bull flag pattern. Meanwhile, heavy-handed, long-term-focused call option buyers continue to enter the market, providing conviction to the current chart pattern.
COIN Sports Strong Balance Sheet
Coinbase boasts a sparkling balance sheet and a growing cash hoard despite the crypto industry’s “Wild West” reputation.
Bottom Line
Coinbase is the true market leader in the crypto industry. The stock should benefit from global crypto adoption, strategic partnerships, and a strong balance sheet.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.