10X Research released a report saying that its regression model shows that despite the strong upward trend in Coinbase's share price, its valuation is too high. The report also analyzed the reasons for Coinbase's rise:
Coinbase (share price above 7-day moving average - > bullish, also above 30-day moving average - > bullish, 1-week change + 47.8%) was driven by an increase in Bernstein's price target to $510, citing its stablecoin business and institutional services.
The Senate passed the GENIUS Act, which increased the transparency of stablecoin regulation, driving its share price up 5.5% to $374.97.
The launch of U.S.-regulated bitcoin and Ethereum perpetual futures on July 21 has further fueled investor enthusiasm.
The successful IPO of Circle and the revenue sharing between Coinbase and USDC have strengthened its market position and supported price increases.
10X Research: Despite Coinbase's strong uptrend, regression models suggest it is overvalued
2025-06-29 02:56:59
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