TechFlow, April 23 — According to Coindesk, brokerage firm Benchmark has initiated coverage on cryptocurrency exchange Coinbase with a "buy" rating and a price target of $252. The report stated that Coinbase has built the largest-scale crypto trading platform in the industry, holding approximately 66% market share in the United States.
Benchmark analyst Mark Palmer said that as the U.S. cryptocurrency regulatory framework becomes clearer—especially progress on stablecoin regulations—a new wave of institutional investor demand will emerge, benefiting Coinbase's growth.
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