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Should you sell Coinbase stock? the platform leaves the top 10 of the largest exchanges

News Coinbase

This is revealed by Dan Dolev, analyst of Mizuhoin a research note published on July 14, stating that Coinabse is now only the 14e largest stock exchange, compared to the fourth at the end of 2021. The platform’s market share even fell to 2.9%.

This situation, linked to the negative sentiment in the cryptocurrency market, is affecting Coinbase stock on the stock exchange. Mizuho Securities remains neutral for the moment, with a price target at $42.

Coinbase price: what is the current price?

Here is the Coinbase live price.

What is Coinbase? What you need to know

The startup Coinbase, which today is worth more than 40 billion, is based in San Francisco. The platform was launched in 2012 by Brian Armstrong who is now one of the richest people in the world. Brian is a former programmer for Airbnb.

Coinbase’s cryptocurrency portfolio has grown significantly, with around 100 tokens now tradeable on its platform. The cryptocurrency exchange stands out for a number of points.

The regulation : it is the most regulated cryptocurrency platform in the world, it is a guarantee of confidence for traders and investors.

Insurance : in case of hacking of the site, cryptocurrencies are covered.

Cross-platform: the main platform makes it easy to buy cryptocurrencies with a credit card or bank transfer, while Coinbase Pro allows short-term traders to speculate in real time on cryptocurrencies with several functionalities: order books, several types of orders, etc.

Coinbase Learn : a program that rewards customers with cryptocurrency when they take training on the most interesting projects.

Other offers are also reserved for institutional investors and merchants: cryptocurrency payment solutions, cryptocurrency custody, etc.

Opinion on what is driving Coinbase stock down

Coinbase stock can be negatively impacted by a number of factors.

  • Bitcoin drop
  • Lower results
  • Bearish phase of the crypto market

Opinion on what is driving Coinbase stock up

Coinbase stock can be positively impacted by a number of factors.

  • Rise of Bitcoin
  • Renewed interest in cryptocurrencies
  • Fed dovish comments

Conclusion of our opinion on Coinbase stock: is it a good investment?

  • Coinbase Mirror Mag Rating: 9/10

Medium term Coinbase stock review

Under the weight of the cryptocurrency bear market in early January, Coinbase stock hit all-time lows. It will be necessary to wait for the price to stabilize over a few days before considering buying it at very attractive prices.

Long term Coinbase stock review

Coinbase has so far failed to hold above its IPO price. We think the startup was overvalued during its IPO. But once Coinbase’s stock price regains its balance, it will be an exceptional growth stock.

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Be vigilant and consult your financial adviser before making any investment decision. Mirror-Mag cannot be held responsible in the event of bad investments. Before using any third-party service, you should do your own research.



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