By Nermeen Nabil Khear 
Crypto asset manager Bitwise says that top US-based crypto exchange Coinbase will usurp Charles Shwab as the world’s most valuable brokerage.
In a new report, Bitwise says it envisions Coinbase’s stock (COIN) reaching a price tag of $700 in 2025 – more than double its current price – making it surpass financial services titan Charles Schwab in terms of market cap.
“Heading into 2023, investors could pick up Coinbase stock for $35. Today, it’s trading at $344, up nearly 10x. We think it could go higher. Way higher. Our prediction: Coinbase stock will trade above $700 per share in 2025 (more than doubling today’s price).
That would make Coinbase the most valuable brokerage in the world, surpassing Charles Schwab. The reason? Coinbase is more than just a brokerage. There are three major catalysts that will help it get there.”
According to Bitwise, the three main reasons Coinbase’s stock will skyrocket next year are its booming stablecoin business rooted in the dollar-pegged crypto asset USDC, its Ethereum (ETH) layer-2 scaling solution Base, and the staking and custody services it provides.
Bitwise’s data reveals that Coinbase’s stablecoin business has jumped by $162 million (+31%) year to date while its blockchain brings in “tens of millions” of dollars worth of revenue every quarter.
Furthermore, Coinbase’s staking and custody services have generated $589 million worth of revenue, up a staggering 106% from the same time period last year.
Bitwise also makes predictions for the top two crypto assets by market cap, noting that Bitcoin (BTC) could reach $200,000 by next year while ETH could hit $7,000.
COIN is trading for $317 at time of writing, a 4.8% gain during the last 24 hours.
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The post Coinbase Will Surpass Charles Schwab As Most Valuable Brokerage in the World, According to Bitwise – Here’s Why appeared first on The Daily Hodl.
Crypto asset manager Bitwise says that top US-based crypto exchange Coinbase will usurp Charles Shwab as the world’s most valuable brokerage. In a new report, Bitwise says it envisions Coinbase’s stock (COIN) reaching a price tag of $700 in 2025 – more than double its current price – making it surpass financial services titan Charles
The post Coinbase Will Surpass Charles Schwab As Most Valuable Brokerage in the World, According to Bitwise – Here’s Why appeared first on The Daily Hodl. Bitcoin, Ethereum, Trading, Base, bitwise, Charls Schwab, coinbase, Crypto, ETH, News, trading, usdc
This articles is written by : Nermeen Nabil Khear Abdelmalak
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