David369
2022-09-12

ok
@StickyRice：
Coinbase stock climbs as Daiwa upgrades to Buy, citing ether-Merge tailwinds Coinbase Global (NASDAQ:COIN) $Coinbase Global, Inc.(COIN)$shares advanced in Friday as Daiwa Securities upgraded America's largest cryptocurrency exchange by trading volume to Buy from Outperform. The company "should be a key beneficiary of increased ETH staking demand" after ether (ETH-USD) merges to a Proof-of-Stake consensus mechanism from Proof-of-Work in the coming days, Daiwa contended in a note written to clients. That's because Coinbase (COIN) is one of the largest ETH holders globally, as it holds nearly 15% of all circulating ethereum (ETH-USD) on its platform, Daiwa pointed out. Meanwhile, COIN's total staking revenue is estimated to be $554M in 2023, representing a Y/Y jump of 73%, Daiwa wrote, adding that its staking revenue contribution could increase to 15% in Q4 2023 from 9% in Q2 2022. That would help "the company diversify its revenue away from more-cyclical trading revenue."
Coinbase stock climbs as Daiwa upgrades to Buy, citing ether-Merge tailwinds Coinbase Global (NASDAQ:COIN) $Coinbase Global, Inc.(COIN)$shares advanced in Friday as Daiwa Securities upgraded America's largest cryptocurrency exchange by trading volume to Buy from Outperform. The company "should be a key beneficiary of increased ETH staking demand" after ether (ETH-USD) merges to a Proof-of-Stake consensus mechanism from Proof-of-Work in the coming days, Daiwa contended in a note written to clients. That's because Coinbase (COIN) is one of the largest ETH holders globally, as it holds nearly 15% of all circulating ethereum (ETH-USD) on its platform, Daiwa pointed out. Meanwhile, COIN's total staking revenue is estimated to be $554M in 2023, representing a Y/Y jump of 73%, Daiwa wrote, adding that its staking revenue contribution could increase to 15% in Q4 2023 from 9% in Q2 2022. That would help "the company diversify its revenue away from more-cyclical trading revenue."

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（1）

  • Top
  • Latest
  • Tslverde
    ·2022-10-01
    good
    Reply
    Report