Coinbase Demoted to Underweight by JPMorgan Chase

This week, JPMorgan Chase made a significant move by downgrading Coinbase (COIN) from Neutral to Underweight, maintaining an unchanged target price of $80. The decision is attributed to concerns related to the BTC-spot ETF market, which is perceived as a potential headwind impacting Coinbases performance. Market Volatility and Coinbases Response The recent pullback in the broader cryptocurrency market has intensified the risk of reduced trading volumes and associated fees for Coinbase. On Tuesday, Coinbase experienced a 3.14% decline, reversing the 2.77% gain observed on Monday...


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