Coinbase’s IPO was a remarkable event that caught the attention of the world as it comes as the prices of Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies continue to increase.
According to data from the exchange, BTC and ETH
Last week, the cryptocurrency exchange reported that its revenue climbed 844% to $1.8 billion in the first quarter of this year. In the same period a year ago, its revenue was $190.6 million.
Wall Street analysts regarded the Coinbase IPO as a ^watershed” moment for the cryptocurrency industry.
Dan Ives, a tech analyst at Wedbush Securities, said it was “potentially a watershed event for the crypto industry and will be something the Street will be laser-focused on to gauge investor appetite.”
Leeor Shimron, an analyst at FundStrat Global Advisors shared Ives’ view on the Coinbase IPO.
Meanwhile, BTIG analysts were optimistic regarding the future of Coinbase. They recommended a “buy” rating and gave a price target of $500 for CION shares.
