JPMorgan sees Coinbase unlocking billions through its Base layer-2 network and USDC rewards overhaul, lifting its price target and fueling a sharp stock rally.
Shares of Coinbase Global Inc. (COIN) rallied sharply on Friday after JPMorgan Chase upgraded the cryptocurrency exchange, highlighting new monetization opportunities tied to its Base network and USDC payout strategy.
The bank’s analysts lifted their rating to “Overweight” from “Neutral” and raised their price target to $404 per share, implying roughly 15% upside from current levels.
JPMorgan said Coinbase is “leaning into” its Base layer-2 blockchain and exploring ways to better capture value from the platform’s growth.
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