Crypto exchange Coinbase (COIN) remains one of the most misunderstood companies in the digital assets space, Wall Street broker Bernstein said in a research report Wednesday.

Bernstein raised its Coinbase price target to $510 from $310, and reiterated its outperform rating on the stock. The shares Wednesday morning were more than 4% higher at around $360 in early trading.

While broader sentiment leans bearish, Coinbase is cementing its role as crypto’s "universal bank," and is bridging retail, institutional, and on-chain infrastructure at a scale unmatched by peers, the report said.

"Coinbase will be a beneficiary of the GENIUS Act and soon to follow CLARITY Act," analysts led by Gautam Chhugani wrote.

Bernstein said the exchange is the only crypto-native firm in the S&P 500 and continues to dominate U.S. trading despite competitive pressure.

Coinbase's stablecoin business, responsible for roughly 15% of total revenue, is scaling rapidly with integrations like Shopify, the report noted.

On the institutional side, Coinbase powers custody for eight of the eleven Bitcoin ETF issuers, the broker noted.

With its recent acquisition of Deribit, the largest crypto options exchange globally, and the explosive growth of its Ethereum Layer 2 network, Base, which is already hosting tokenization pilots like JPMorgan’s JPMD coin, Coinbase is quietly assembling the core infrastructure of the next financial system, the report added.

Read more: Coinbase Is Well Positioned to Benefit From U.S. Crypto Regulatory Clarity: Benchmark

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。