Despite the ongoing crypto winter and the various regulatory challenges faced by Coinbase, its shares are trading at a valuation close to that at which they traded in late 2021, which was the height of the last crypto boom, the report added, noting that the stock has risen more than 112% this year versus a 72% gain for bitcoin (BTC) and a 29% uplift for the Nasdaq stock index.
Berenberg Expects Coinbase’s Trading Volume to Slip Further as Crypto Winter Continues
