While the cryptocurrency market has been experiencing volatile hours in the last 24 hours Bitcoin to $65,000 levels, Ethereum It dropped to 3500 dollars.
BTC and ETHWhile the direction in is not yet clear, the largest bank in the USA JPMorgan has published a new report on Ethereum and Coinbase.
According to Coindesk news, JP Morgan analysts said the Ethereum network and ETH could make a significant contribution to the broader cryptocurrency ecosystem and be a positive driver of Coinbase (COIN) earnings.
At this point, analysts think that Ethereum will have a positive impact on Coinbase’s revenue. He raised his price target for COIN stock to $150 from $95.
JP Morgan analysts led by Kenneth Worthington included the following statements about Etheruem and Coinbase in the report:
“Ethereum use cases transcend the cryptocurrency ecosystem. At this point, we think that the Ethereum network and ETH will provide a strong source of income for Coinbase in the near term.
We also see the advancements in the Ethereum roadmap, including the Dencun upgrade on March 13, as encouraging crypto development, which is a positive development for both the crypto market and Coinbase in the long term.
Ultimately, we think Coinbase’s long-term success will be ensured by development focused on tokenization and payments.”
*This is not investment advice.
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