Coinbase Flywheel Is Coming: Analyst
1. BTIG initiated COIN coverage with a Buy rating and $410 price target. 2. Coinbase diversifies revenue, reducing reliance on consumer trading platforms. 3. Growth in derivatives and Base App offers substantial revenue opportunities. 4. USDC adoption remains strong, enhancing Coinbase's sustainable revenue. 5. Increasing regulatory support seen as a positive for Coinbase's growth.