“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
-
Solana (SOL) ETF Applications Look Like Bets on Trump Retaking White House, Making U.S. Friendlier to Crypto
“Given that CME-traded solana futures don’t currently exist, it seems the only viable path for spot... -
Bitcoin Price (BTC) Could Drop to $55K as Crypto Closes Weak Quarter
Anticipation of the spot bitcoin ETF approval, then the approval, and then the massive inflows into... -
Elections Across Europe Won’t Hinder Blocs’ Crypto Ambitions, MiCA
The Czech Republic, Republic of Cyprus, Estonia, Netherlands, Poland, Slovakia and Spain held elections last year....