Coinbase to Benefit from Further Blockchain Adoption — Market Talk

Amid a rapidly evolving cryptocurrency environment, Coinbase Global is well-positioned to reap the benefits of further regulatory clarity and increased stablecoin adoption, Oppenheimer analysts say in a note. The space will likely see more partnerships between traditional finance and crypto native ventures going forward, which Coinbase plays a pivotal role in forming to facilitate USDC usage, the analysts say. Coinbase should also get a boost from a higher valuation of Circle, which it garners much of its revenue from, they say. They raise their price target to $395 from $293. Shares rise 5.6% to $375.15. (kelly.cloonan@wsj.com)