Shares of Coinbase, one of the world’s largest cryptocurrency exchanges, fell after Wells Fargo’s warning.
According to analysis by finance giant Wells Fargo, Coinbase’s earnings rate is higher than that of the industry. increased competition and crypto markets a macro pressure applied, it may decline.
Coinbase’s shares are up after this warning from Wells Fargo It lost more than 9% of its value.
Value of Coinbase shares during the day up to under $61 fell.
According to the Wells Fargo team, Coinbase’s shares could lose even more. Analysts’ target price for Coinbase stock, 57 dollars level.
One of the world’s largest cryptocurrency exchanges, Coinbase’s rivals in the US are getting stronger. Robinhood, a mobile trading platform, has started work on self-custody digital wallets, and Binance.US has reduced transaction fees in some spot markets.