“Following a severe drop in asset prices, it is not surprising to see a bit of paralysis in customer engagement, particularly in trading as investors assess where we go from here,” JMP’s Devin Ryan told clients in a note. “Pinpointing the moment of inflection is difficult, but we continue to have conviction that Coinbase remains incredibly well positioned to benefit as the pendulum moves back into the middle, which we believe it inevitably will.” Ryan has a market outperform, and lowered JMP’s price target to $195 from $205.
Related posts
-
Stablecoin Market Remains Steady in June Amidst Crypto Volatility
While June was a lackluster period for crypto assets... -
Unlocking Value: Fair Price Discovery, the Role of Market Makers
Getting a token from inception to market is no... -
Crypto ATM Installations Rise in 2024, Adding 2,564 New Machines Globally
In June, the number of cryptocurrency automated teller machines...