Odaily Planet Daily reports that Benchmark has maintained its "Buy" rating on Coinbase and a $270 price target, implying approximately a 59.5% upside from its Tuesday closing price of $169.27. The firm noted that Coinbase’s latest "System Update" indicates it is accelerating its transformation from a cryptocurrency trading platform into an "everything exchange" connecting traditional finance with on-chain economies.
Analyst Mark Palmer stated that this product update, which includes tokenized U.S. stocks, equity and crypto options, pre-IPO perpetual contracts, prediction markets, AI-driven investment tools, agent-based payment infrastructure, and retail financial products, marks a continued expansion of its business boundaries.
Key advancements highlighted by Benchmark include the U.S. CFTC’s approval of its registration as a regulated Futures Commission Merchant (FCM), the global derivatives capabilities gained through the acquisition of Deribit, and the integration of crypto perpetuals and options into a compliant framework to enable cross-market liquidity consolidation.
Additionally, the company’s initiatives in the Base ecosystem, prediction markets, and AI agent payments are seen as significant signals of its evolution from spot crypto trading to a comprehensive on-chain financial infrastructure. (The Block)