• Latest
  • Trending
  • All
Investment Bank H.C. Wainwright Believes Crypto Winter Is Over, Rates Coinbase Stock as ‘Buy’ 

Investment Bank H.C. Wainwright Believes Crypto Winter Is Over, Rates Coinbase Stock as ‘Buy’ 

April 28, 2023
This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

June 1, 2023
BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

June 1, 2023
Ethereum Open Interest On Deribit At A 3-Year High

Ethereum Open Interest On Deribit At A 3-Year High

June 1, 2023
Bitcoin logs monthly loss, Ether drops, U.S. equities slide

Bitcoin logs monthly loss, Ether drops, U.S. equities slide

June 1, 2023
Hong Kong Has Ambitions to Build Crypto Hub But Hasn’t Landed Big Commitments

Hong Kong Has Ambitions to Build Crypto Hub But Hasn’t Landed Big Commitments

June 1, 2023
No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

June 1, 2023
Blockchain Analytics Firm Nansen Cuts Workforce by 30%

Blockchain Analytics Firm Nansen Cuts Workforce by 30%

June 1, 2023
Fancy Crypto – Cryptocurrency Mining Platform Now Gives Users 7 Different Ways To Start Mining Crypto…

Fancy Crypto – Cryptocurrency Mining Platform Now Gives Users 7 Different Ways To Start Mining Crypto…

May 31, 2023
Binance Coin (BNB) and Dogecoin (DOGE) Charts Show Red; Investors Looking To Buy into Uwerx (WERX) Early

Binance Coin (BNB) and Dogecoin (DOGE) Charts Show Red; Investors Looking To Buy into Uwerx (WERX) Early

May 31, 2023
An update on Devcon 6, and something new…

An update on Devcon 6, and something new…

May 31, 2023
Crypto Trio Shaking The Market: Polkadot, Litecoin, And Caged Beasts Rally For Success

Crypto Trio Shaking The Market: Polkadot, Litecoin, And Caged Beasts Rally For Success

May 31, 2023
NVIDIA Impact AI Tokens SingularityNET, Render

NVIDIA Impact AI Tokens SingularityNET, Render

May 31, 2023
Thursday, June 1, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Blockchain

Investment Bank H.C. Wainwright Believes Crypto Winter Is Over, Rates Coinbase Stock as ‘Buy’ 

by Cuevas Antonio
April 28, 2023
in Blockchain
0
Investment Bank H.C. Wainwright Believes Crypto Winter Is Over, Rates Coinbase Stock as ‘Buy’ 
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Analysts at H.C. Wainwright have said that the crypto winter of 2022 ceases to have any bearing on related stocks. 

H.C. Wainwright believes that the crypto winter is over and has called for a buy on Coinbase (NASDAQ: COIN) stock. According to the New York-based investment bank, Coinbase stands to benefit from global digital asset economy growth sooner rather than later. H.C. Wainwright released a statement on Wednesday that underscored its bullishness on the prices of crypto assets.

The investment banking platform wrote:

“Crypto asset prices have rallied 45% YTD, supported by a 67% increase in BTC prices, indicating to us that crypto winter is over and that we have likely now entered BTC’s next bull price cycle (not baked into current estimates), which has historically resulted in significant growth in total crypto market cap, incremental retail, and institutional adoption, and higher crypto trading volumes.”

Summing up these key metrics as a driver of Coinbase’s operating results, including transaction revenues, H.C. Wainwright also said:

“[As a leading exchange in the US and the world], we believe Coinbase is uniquely positioned to benefit from the large and rapidly growing global crypto economy given its trusted brand, easy-to-use products, and focus on compliance and regulation, and we expect the company to gain market share in 2023.”

According to the bank, Coinbase’s revenues would become more “durable” over time due to its increasingly alternate revenue sources. Besides generating income from transaction-based fees, Coinbase has started leaning toward subscription and service revenues.

H.C. Wainwright Analyst Identifies Coinbase as Only Exchange Valued at Over $10 Billion in Light of Crypto Winter

H.C. Wainwright analyst Mike Colonnese posted a ‘Buy’ rating for Coinbase, explaining that “rewards outweigh risks at these prices.” Furthermore, the analyst stated that COIN, currently trading at $54.17, is a “scarce asset” unlikely to change over the near term. Colonnese also pointed out that the major crypto exchange is the only US publicly-listed crypto company with a market cap exceeding $10 billion. As a result, the analyst concluded that competition for investor capital remains extremely limited.

Although the Nasdaq-listed COIN closed 3% lower on Wednesday and at 85% lower than its November 2021 peak, Wainwright analysts opine the stock is still an attractive prospect. These analysts say Coinbase’s share price levels offer investors an attractive entry point because the stock trades at a 35% discount to historical highs.

Coinbase vs SEC

In other recent Coinbase news, the exchange sued the Securities and Exchange Commission (SEC) over crypto regulatory guideline differences. In its lawsuit, the American exchange asked the court to require crypto clarity from the securities regulator. Coinbase called for the SEC to respond to its July 2022 petition promptly. In the previous petition, the exchange suggested that the Commission propose and adopt more explicit regulatory guidelines for the US crypto space via its formal rulemaking process. More than 1,700 individuals and entities have since submitted comments on Coinbase’s petition, also calling for more regulatory clarity from the SEC.

Yesterday, Coinbase firmly responded to a Wells Notice from the SEC last month, claiming no violation of securities laws. The exchange’s chief legal officer Paul Grewal accused the regulator of refusing to engage in meaningful dialogue regarding crypto regulations. Furthermore, Coinbase also suggested that the SEC had been intimidating several other exchanges over securities law violations. However, Coinbase expressed its intent to remain unshaken as it has not committed any wrongdoings.

next

Blockchain News, Cryptocurrency news, Market News, News, Stocks

Tolu Ajiboye

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

Thank you!

You have successfully joined our subscriber list.



Source link

Tags: BankBelievesBuyCoinbaseCryptoH.CinvestmentratesstockWainwrightWinter
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

April 10, 2023
What is Cloud Mining and How Does it Work?

What is Cloud Mining and How Does it Work?

April 10, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

June 1, 2023
BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

June 1, 2023
Ethereum Open Interest On Deribit At A 3-Year High

Ethereum Open Interest On Deribit At A 3-Year High

June 1, 2023

Recent News

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

June 1, 2023
BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

June 1, 2023
Ethereum Open Interest On Deribit At A 3-Year High

Ethereum Open Interest On Deribit At A 3-Year High

June 1, 2023

Categories

  • Altcoin
  • Altcoin News
  • Altcoins
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Crypto Mining
  • Cryptocurrencies
  • Culture
  • Dogecoin
  • Economy
  • Education
  • Ethereum
  • Featured
  • Governance
  • Litecoin
  • Market
  • News
  • Uncategorized

Converter

Cryptocurrency Prices by Coinlib

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved