Despite Volume Drop, Coinbase Analyst Highlights Stablecoin Momentum, Competitive Edge

Group 1 - Coinbase Global Inc.'s trading volumes have significantly decelerated, but the potential of its non-trading revenue streams is being underestimated by investors [1][2] - In March, the daily average trading volume decreased by 20% month-on-month and is 30% below January's daily average [2] - If the trading volume trend from March continues into Q2 2025, the estimated trading volume would be $335 billion, which is about 4$350 billion [3] Group 2 - Despite the slowdown in trading volumes, Coinbase Global is gaining market share [3] - Stablecoin growth has accelerated, reaching a record high in March, with USDC growing by 36% year-to-date compared to only 5% for Tether [4] - Coinbase Global's 50% ownership of USDC is viewed as an underappreciated positive factor for the company [4] Group 3 - Analyst Chris Brendler from Rosenblatt Securities reiterated a Buy rating for Coinbase Global with a price target of $305 [1] - At the time of publication, shares of Coinbase Global had declined by 2.8$198.37 [4]