Banking giant CiTi sees potential in Coinbase’s COIN
A giant financial services multinational company Citi initiated its research towards Coinbase’s COIN and claimed that there are better chances of increasing its COIN.
As we know, CITI is a highly popular financial multinational company in the world. Recently Peter Christiansen, an analyst at CITI, shared the target that COIN may hit. According to the shared details by Peter, COIN deserves $415.
Peter published his stance on COIN on 26 October. Today is 27 October, so we can say Peter believes that COIN is 30% below its actual price. On Monday the stock value of COIN was $319.
As per the report of the CiTi company, Coinbase has huge potential because Coinbase is not only expanding its business in Crypto but also is giving its high-level effort in the cold storage wallet services and NFTs marketplace.
Christiansen further elaborated on the company based upon his research
“….for its position within the crypto value chain, a ‘networking-based business model and strategy, the undeniably very large opportunity set … yes, we believe COIN is investable”
Further analysts said that Coinbase is doing operations under compliance with the regulatory guidelines, so it is helping the company to grow under such big competition.
“To a degree, we think rising regulations could be a positive for Coinbase’s competitive positioning, particularly versus business models that predominantly rely on markets being unregulated.”
Coinbase against US regulators
No doubt that Coinbase is the biggest leading crypto exchange in the United States and also targets users from all over the world.
But Coinbase indicated many times that there are some problems with the US SEC agency against the Coinbase & crypto market.
Coinbase CEO Brian Armstrong claimed that everyone wanted to meet the Coinbase firm When Coinbase went public listing at Nasdaq, but it was the SEC authority that was not willing to meet them.
However, the operations of Coinbase exchange are under the full compliance and guidelines of the regulators but still, there are many things between Coinbase and the SEC agency which are not easy to digest.
Read also: Turkish crypto exchange Paribu listed Shiba Inu coin
