Coinbase stock could surmount 69% and hit a minimum of $300,00, predict Bernstein analysts

Bernstein analysts think that Coinbase stock could surmount 69% and hit a minimum of $310, reported TheBlock.

Bernstein analysts believe that Coinbase stock could surge by a massive 69% and reach a minimum of $310, according to an analysis by TheBlock. The analysts also believe that the crypto market is still in the early stages of development and the U.S. has a key role to play in digital assets, which will ultimately benefit Coinbase in the long run.

The team, led by analyst Gautam Chhugani, said in a note on Tuesday that while they see the competition and declining fees narrative as "overhyped," they predict continuing growth for Coinbase.

This growth will be driven by more people in the U.S. adopting cryptocurrencies, which the analysts described as the "great American homecoming," inspired by efforts from the Trump administration to make the U.S. dominant in the crypto industry.

The analyst also highlighted Coinbase's broader range of offerings, such as crypto staking yields, custody services, and the Ethereum Layer 2 network Base, predicting a 31% compound annual growth rate for its non-trading revenues and 33% for its overall revenue over that time frame.

Moreover, Chhugani believes that the Bitcoin Strategic Reserve and an increase in banks adopting digital assets could boost growth for the company.

Coinbase is the largest crypto exchange in the U.S., holding roughly 66% of the market, over $400 billion worth of assets, and some 10 million active users. However, they project that this market share will decline slightly to 60% by 2026.

Despite this, they expect a 34% annual growth rate for its trading revenue and a 31% growth rate for non-trading revenue from services such as staking and an Ethereum Layer 2 network called Base.

Bitcoin may be 30% off its all-time high, but Bernstein's Chhugani sees room for the market to go up. The analyst predicted that by late 2025 or early 2026, Bitcoin may rise to $200,000, driven by greater institutional and government adoption of the cryptocurrency.

When regulations get friendlier, real-world asset tokenization and stablecoins have the potential to create significant new revenue streams for Coinbase, the analyst noted.

At press time, Coinbase's stock price is $180.07, down 4.56% in the last 24 hours and 31.85% in the previous month.