Tuesday, February 27, 2024

According to a Cowen analyst, Coinbase has a “structural advantage” over competitors.

Cowen recently analyzed the popular exchange Coinbase and said that it has a structural advantageS over its rivals due to its nature. They started coverage on the Coinbase network with $85 target and outperform rating.

The company’s shared at this moment trade at $70. This is due to the fact that the crypto market has weakened all over the world. With the ongoing war between Russia and Ukraine, and the new crypto laws in China, Russia, and India, the crypto market has been in a bear market for some time now.

Add to that the fact that most Asian countries keep changing their stance on crypto, there is always panic selling when it happens. This is because as crypto acceptance is growing more and more countries are adopting them as a source of payment.

Recently the company has lost 70% of its value but its current structure ensures that the risk is minimal. Although they are working on lowering the fees for operations. The current Coinbase performance has been great.

They are the 3rd largest crypto exchange in the world and also made up for 46% of the crypto exchanges happening in the USA. This is a significant jump from the 39% in 2020 itself.

With the crypto market growing at a steady rate even in the bear market, this is the best time to get into it. The prices of most cryptocurrencies are low and as the markets mature they will rise. So if you have been planning to get into the game, right now is the best time to do so.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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