Upgraded Coinbase Estimated Value Reaches $292 Based on Aggressive Cryptocurrency Strategies
Hopping onto the Crypto Bandwagon: Coinbase's Stride into the Future
Famed cryptocurrency exchange, Coinbase, has brushed aside the curtains on its future strategies, doling out an arsenal of new products and strategic partnerships at its 2025 State of Crypto summit, held in the pulsating city of New York. The cryptocurrency heavyweight is hell-bent on surpassing its role as a mere trading platform.
Enter the Coinbase One Card, a game-changer partnered with American Express, promising up to 4% Bitcoin rewards on purchases. This ingenious move aims to reel in users, making crypto trading more tantalizing than ever.
Under the hood, the company has cooked up Base, its very own Layer 2 blockchain. Base is the powerhouse behind its native payment system and business treasury management platform, which is poised to revolutionize the way we interact with digital assets.
The firm also unveiled innovative payment services destination for Shopify merchants, allowing them to employ USDC for native payments and conduct transactions on Base. This integration heralds the arrival of cryptocurrencies in the mainstream e-commerce realm.
In the trading arena, Coinbase is paying heed to the burgeoning demand for decentralized exchanges (DEXs), such as Aerodrome, constructed on Base. By incorporating DEXs into its main application, users can practically tap into a plethora of on-chain assets through a single platform.
Moving forward, Coinbase is dipping its toes into the crypto derivatives market. The exchange has announced the introduction of CFTC-regulated U.S. perpetual futures and plans to assimilate Deribit, a renowned crypto derivatives exchange, into Coinbase Prime.
Following its recent $2.9 billion acquisition of Deribit, Coinbase is redefining its identity, shifting from a mere cyclic crypto exchange to a cornerstone infrastructure.
The second quarter of trading has seen a slump compared to initial predictions, ranging between $230 - $250 billion, as opposed to the anticipated $357 billion. In response, the company has trimmed 2025 revenue expectations by around 4%, but maintained an "overweight" rating on the stock and hiked the 12-month price target to $292 a share from $253.
Currently, Coinbase shares trade at approximately $240.50, reflecting a 6% decline so far in 2022.
** dig deeper: Coinbase's Game-Changing Collaborations with American Express and Shopify**
On the sidelines of the summit, Coinbase shook hands with American Express and Shopify on intriguing deals that carry the potential to turbocharge the mass adoption of crypto, opening up new dimensions for users and businesses.
Stay tuned as Coinbase continues to carve its niche as a multifaceted financial services provider, transcending the confines of a cryptocurrency exchange.
- The Coinbase One Card, in collaboration with American Express, offers up to 4% Bitcoin rewards on purchases, a proactive step aimed at integrating cryptocurrency into mainstream finance and technology.
- Coinbase's strategic partnership with Shopify not only allows Shopify merchants to employ USDC for native payments but also conduct transactions on Coinbase's own Layer 2 blockchain, Base, heralding the arrival of cryptocurrencies in the e-commerce sector.
