You Won’t Believe What Banks Are Saying About Coinbase! 🚀

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In a delightful twist of fate befitting a galaxy far, far away, two of America’s banking behemoths have decided to sprinkle some pixie dust on the shares of Coinbase, the glittering jewel of crypto exchanges lurking in the United States.

Coinbase: The ‘Everything Exchange’ That Wants to Rule the Universe

In an astonishingly optimistic report shared on X (and not to be confused with the secretive X-Men), Vaneck’s head of digital asset research, Matthew Sigel, revealed that Bank of America has decided to crank up the price target for COIN to a staggering $340 – a jump of 41% from its current state, which is about as exciting as watching paint dry.

Among the various reasons that could send COIN soaring into the stratosphere, the banking giant pointed out Coinbase’s ambitious leap towards becoming the “everything exchange.” Yes, you heard that right! They’re gearing up to offer stock trading and prediction markets, which sounds like something straight out of a science fiction novel.

The bank was quoted saying:

“
COIN detailed its whimsical expansion into stock/ETG trading and prediction markets for the first time. This supports its objective of becoming the everything exchange” and cross-selling more products to its unsuspecting users.”

But wait, there’s more! Bank of America also hinted at the eventual launch of a native token for Base – Coinbase’s very own Ethereum layer two (L2) chain – which they believe will be another cosmic catalyst. The analysts giddily stated that “a native token launch would incentivize builders, creators, and early adopters,” while simultaneously raising billions in cash. Because who doesn’t love a good cash infusion, right?

Overall, the bank’s buy thesis posits that crypto is just warming up, and that Coinbase is the long-term champion in this galactic arena.

Says the report:

“Coinbase is leading the charge to create a new financial system that runs on blockchain rails 24-7-365 and provides time/cost efficiencies. The universe is still in the early innings of crypto adoption, and we see Coinbase as the trusted platform with #1 market share in the U.S., making it a perfect TradFi partner.”

Just days before Bank of America donned its cheerleader outfit, fellow investment institution Goldman Sachs upgraded COIN from neutral to “Buy,” signaling that it had become “selectively more optimistic” about crypto. 🎉

Goldman, too, echoed Bank of America’s enthusiasm regarding Coinbase’s grand plan to expand beyond just crypto trading, noting the exchange’s shift towards “new, secularly growing products, particularly tokenization and prediction markets.”

As of Friday’s closing bell, COIN was cozily trading just above $240, which, if you squint hard enough, is actually down over 46% from its all-time high. Who could’ve guessed that the rollercoaster of crypto was just getting started?

FAQ ❓

  • Why did Bank of America raise its Coinbase price target?
    Because apparently, they were feeling optimistic and saw new growth catalysts along with Coinbase’s quest to become an “everything exchange.” Sounds like a fun party!
  • What does “everything exchange” mean for Coinbase?
    It means they’re expanding beyond mere crypto trading into stocks, ETFs, and prediction markets, all while trying to cross-sell everything under the sun.
  • Why is a Base token launch bullish for Coinbase?
    Because analysts believe a native Base token could entice developers and potentially raise billions in fresh capital for Coinbase. Cha-ching!
  • What is Goldman Sachs’ outlook on Coinbase stock?
    Goldman Sachs upgraded COIN to Buy, displaying optimism surrounding crypto and Coinbase’s foray into tokenization and prediction markets. They’re obviously feeling adventurous!

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2026-01-11 09:57