Crypto exchange Coinbase ended 2024 with strong business momentum and positive sentiment in the digital asset industry, according to research firm JMP. JMP raised its price target for Coinbase and reiterated a market outperform rating, suggesting that Wall Street may be underestimating the company's prospects. The analysts stated that if the transaction pace continues, Coinbase's first quarter revenues could exceed current consensus estimates by nearly 30%. JMP believes that there is a "seismic shift" happening in the industry and expects significant growth for Coinbase in the next five years. The report also noted that the regulatory and legislative environment is now supportive for the next chapter of crypto.



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