Morgan Stanley slashes Coinbase’s price target by 53%—are the exchange’s good days over? 📉
🔥 Morgan Stanley analyst Cyprys downgraded COIN from Equal-weight to Underweight, cutting the price target in half from $258 to $120. That’s still about 16% downside from Friday’s close of $143.54.
The reason is straightforward: confidence in an earnings recovery has deteriorated.
📊 The numbers speak for themselves:
• Coinbase’s Q3 net revenue was $1.2 billion, down about 35% year over year
• Transaction revenue was $590 million, plunging 44%
• Crypto prices rebounded, but trading volume didn’t follow—that’s the key point
⚠️ My take: Rising crypto prices ≠ more profits for exchanges. If retail traders and leverage don’t return, fee revenue won’t recover. On top of that, funds are moving between platforms following the Binance hack, weighing on sentiment toward the exchange sector in the short term.
BTC is currently around $77,000–$78,000, and the Fear & Greed Index is at 37 (Fear). The market is waiting for the U.S. midterm elections to play out.
👉 When do you think trading volume will recover—after the election, or after rate cuts? Let’s discuss in the comments 👇
$BTC $ETH #Coinbase #加密市场 #Morgan Stanley
This is only my personal opinion and does not constitute investment advice
🔥 Morgan Stanley analyst Cyprys downgraded COIN from Equal-weight to Underweight, cutting the price target in half from $258 to $120. That’s still about 16% downside from Friday’s close of $143.54.
The reason is straightforward: confidence in an earnings recovery has deteriorated.
📊 The numbers speak for themselves:
• Coinbase’s Q3 net revenue was $1.2 billion, down about 35% year over year
• Transaction revenue was $590 million, plunging 44%
• Crypto prices rebounded, but trading volume didn’t follow—that’s the key point
⚠️ My take: Rising crypto prices ≠ more profits for exchanges. If retail traders and leverage don’t return, fee revenue won’t recover. On top of that, funds are moving between platforms following the Binance hack, weighing on sentiment toward the exchange sector in the short term.
BTC is currently around $77,000–$78,000, and the Fear & Greed Index is at 37 (Fear). The market is waiting for the U.S. midterm elections to play out.
👉 When do you think trading volume will recover—after the election, or after rate cuts? Let’s discuss in the comments 👇
$BTC $ETH #Coinbase #加密市场 #Morgan Stanley
This is only my personal opinion and does not constitute investment advice
