Coinbase Global, Inc. Aktie News

To borrow from an old Benjamin Graham/Warren Buffett concept, the market is a weighing machine in the long term. Coinbase (NASDAQ: COIN ) certainly has value as an exchange for popular cryptocurrencies like Bitcoin ( BTC-USD ).

Coinbase is the largest publicly traded company exposed to crypto assets in the US, with a strong brand and rapid user growth. Valuation analysis suggests that COIN is undervalued by 47%, with a fair share price of $311. The volatility of cryptocurrencies poses risks, but as the industry develops and penetrates further, crypto assets are expected to become less volatile over time.

The halving of Bitcoin ( BTC-USD ) has typically been a precursor to some pretty extraordinary gains for the top cryptocurrency. Many investors and cryptocurrency traders have likely prepared.

Cryptocurrency stocks are on the rise today, as Bitcoin (BTC) moves higher following Friday's fourth-ever 'halving' event-- its first since 2020.

Coinbase Global Inc (NASDAQ:COIN) shares are set to open more than 2.5% higher after the crypto exchange platform benefited from the Bitcoin “halving” event last week. The Bitcoin Halving is an event, typically taking place every four years, which is programmed into the cryptocurrency's network and cuts the reward for mining new blocks in half.

The technology-heavy Nasdaq Composite rises following its worst week since November 2022.

Coinbase generates revenue from a stablecoin, and adoption levels for this coin have been rising during the last four months. Transactions on the company's platform are also surging, which could contribute to a blowout quarter next month.

While Coinbase continues to make the lion's share of its money from crypto trading, it is diversifying its business to pursue other sources of revenue. Its custodial fee income should get a major boost from the new spot Bitcoin ETFs.