Coinbase just got a 53% price-target cut. Wall Street is questioning trading volumes.
Morgan Stanley downgraded Coinbase and slashed its target by 53%, citing weak crypto trading activity and doubts about an earnings recovery (CoinDesk). COIN is down about 6% today alongside the broader chip and risk selloff.
My take: exchange stocks are a leveraged bet on retail activity, and fear at 26 isn't helping.
Do you think trading volumes recover before year-end, or does this stay quiet? $BTC $ETH
#Coinbase #CryptoStocks #Bitcoin
Morgan Stanley downgraded Coinbase and slashed its target by 53%, citing weak crypto trading activity and doubts about an earnings recovery (CoinDesk). COIN is down about 6% today alongside the broader chip and risk selloff.
My take: exchange stocks are a leveraged bet on retail activity, and fear at 26 isn't helping.
Do you think trading volumes recover before year-end, or does this stay quiet? $BTC $ETH
#Coinbase #CryptoStocks #Bitcoin